CP Adeoye Dismisses Disgruntled Petitioners, Says ATIC’s Assets Of N20bn Intact, Still Growing
CP, Aderemi Adeoye, Commissioner of Police in Anambra has said that the asset of Alpha Trust Investment Club, ATIC, amounting to about N20 billion was intact and still growing contrary to claim by a few of its members.
Adeoye said this while reacting to a petition by 33 members of the Club to the Inspector General of Police alleging fraudulent diversion and misappropriation.
They alleged that their investments were shrouded in secrecy and opacity, with no clarity in sums invested, contracts entered with third parties, and decision-making processes.
According to him, the idea was that members of the cooperative club will pull funds together to invest in various products and platforms and profits will be shared based on the investments made by each member.
“By 2023, there were more than 1,400 members in ATIC,” they said.
But Adeoye described the petition as a smear campaign aimed at tarnishing his hard earned reputation attributing their action to greed and avarice.
He said, like the petitioners rightly observed, he founded the Club in 2018 with no fewer than 1,400 members at the moment and also constituted an executive management team and Board of Trustees with the approval of members.
He said he chairs both the executive management team and the BoT.
Adeoye said the club had internal land and stock exchange systems where members could sell to each other and pay commission to the club from where they generated money for payment of dividend which they had paid every year since inception
He said the agitation started when the breakaway group which had been expelled from the Club learnt that the asset of the club was worth about N20 billion,
“That was when greed took over them and the desire to sit on that humongous wealth got better part of them
“The arrowhead of the agitation joined two years after the club was formed, he is one of the smallest shareholders with 60,000 shares which is the minimum anyone could have.
“In his quest to manage the wealth he never earned, he started attacking officials and poisoning the minds of members.
“Our members know that we are solid that we don’t have any problem, they know that we are prosperous, stable and always faithful,” he said
Adeoye said members who stated clearly that they joined because of him gave him free hand to select those he could work with.
“I hand-picked those who had shown commitment with whom he constituted an executive management team and a Board of Trustees,” he said.
He said the club had an Annual General Meeting in August last year where the account was laid bare and everybody was satisfied and the board was commended.
“But in the middle of the financial year, they said they want the account audited but we said there was no problem with the account and the process must be duly filled but they said it must be now.
“When we discovered that they had become criminal, threatening to hunt down a member in Australia allegedly to recover their money.
“Out of ignorance they do not know that the person they talking about who is the highest shareholder with 11 million shares is not the treasurer
“It was at this point that we expelled them and they started making trouble, they have nothing more than nuisance value,” he said.
On the activities of the club, Adeoye said “we create wealth by investing in real estate, stocks, forex and crypto with which we generate liquid cash for dividend payment,
“Sujimoto in Banana Island, we bought the entire fifth floor with five apartments for N1.79 billion, so far we have paid approximately N1 billion and the apartments are to be sold for N4.9 billion. It’s still being constructed.
“We established a loan scheme which loans a maximum of N1 Illinois to members at one percent.
“We have set up an exit lounge where those who want to exit the club either voluntarily or expelled can process and get a settlement for their claims .
“Those who refused to honour an invitation to that lounge are the ones creating the impression that they are being scammed,” he said.
The CP dismissed their claim that he was moving out the country with his family as baseless saying his wife was chairperson of the Police Officers Wife Association and that his son was carrying out a mandatory service year in the country.
“I have told members that when I am out of service, the work if the club will become full time for me, we are volunteers, nobody is paying anybody,” he said.
