Suspects arrested in connection with a counterfeit footwear factory in Ogun State have admitted that using imitated foreign brand labels helped the company attract more customers and generate higher sales than products marketed under Nigerian-made branding.
The Police Special Fraud Unit (PSFU), Lagos, disclosed this following an investigation into the activities of Meibalun International Nigeria Limited at Makun, Sagamu.
Five suspects were linked to the operation. They were identified as Ojeleye Esther, Olulenu Adebola, Adewunmi Titilayo, and two Chinese nationals, Zhu Hai Chen and Zhou Hai Fen.
According to the police, the company presented itself as a manufacturer of Nigerian-made footwear but was found producing and marketing shoes bearing the names and trademarks of international brands, including Gucci, Nike, Timberland, Louis Vuitton and Adidas, without authorisation from the trademark owners.
The suspects reportedly admitted during interrogation that the use of imitated foreign brand names generated greater sales and market patronage than products sold under local branding.
Further investigation by the unit’s Stock Capital Market Fraud Section also uncovered questionable financial practices. Payments from customers were allegedly diverted into private bank accounts rather than the company’s designated corporate account.
Investigators have commenced financial tracing to establish the ownership, movement and utilisation of the proceeds of the alleged activities.
The Commissioner of Police in charge of the PSFU, Eloho Okpoziakpo, reaffirmed the unit’s commitment to tackling financial crimes beyond conventional banking and investment fraud.
AbdulBasit Saba is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
