These are certainly bad times for serial fraudster Seun Egbegbe with reports suggesting that his business is in disarray even as his exotic cars are now up for sale.
According to an impeccable source, there is nothing going on at Egbegbe’s Ebony Films Productions anymore as he continues to languish in prison after he was docked in February for defrauding some Bureau De Change operatives at Gbagada in Lagos.
“Nothing is going on at Ebony Films Productions anymore since Seun has been in detention because without Seun, there is no Ebony. Even his earlier plan to bring in ultramodern equipment from Dubai and open a new office at Balogun, Ikeja, can’t be realised again even if he gets out of that place,” the source revealed.
Continuing, the source added that; “Egbegbe’s case is even worsened as his elder brother, Arapaja, who was also running around for him has also been implicated in the case. I learnt he was arrested alongside Seun’s close aide, Kazeem (KC). They are all in detention now so his matter has been compounded.”
Recall last month that Egbegbe lamented his fate in prison especially with the hefty bail conditions required for him to regain freedom.
Egbegbe who was granted bail about a two ago alongside his accomplice Oyekan Ayomide is worried that the N5 million bail which he was granted since February 24, 2017 is too high to meet.
According to a close associate of Egbegbe, the bail conditions set aside for his release is too high and Egbegbe may find it hard to meet it.
“Where do they expect him to get the sureties who would leave their passport and certificate of occupancy with the court until the case which may last four years ends?”
“Who will risk losing N2.5 million as surety for a case that has not even really started?” Egbegbe’s associate asked.
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