Wizkid’s ex-manager allegedly arrested for Fraud!

On Tuesday, May 31, Wizkid’s former manager who getting ready to tie the knot, Osagie Osarenkhoe was arrested by the Nigerian police for being involved in a N13m fraud by, Baseline Records.

Osagie who is currently managing Skales, has been accused by the record label of stealing the sum of N13, 374, 000 in the past 12 months. The record label has released a length petition addressed to the Inspector General of Police and right now Osagie is at the Police Station as they try to sort things out.

According to Bella Naija, Osagie received a petition letter which revealed all her fraudulent acts. The petition reads: “On the 11th of July, 2014 the company entered into an Artiste and Record Company Multiple Right Agreement (the “Contract”) between itself and Raoul Njeng Njeng (also known as Skales) for the provision by Skales of exclusive recording services to the Company for a period of 5 (five) years.

Under the terms of the Contract, Skales assigned to the company all copyright and other rights or interests throughout the world in all sound recordings made by Skales prior to or during the term of the Contract. The Contract further provided that the Company shall be entitled to 70% (seventy percent) of the gross receipts received by Skales from performance and tours and brand endorsements during the term of the Contract.

Skales introduced Teresa Osagioduwa Osarenkhoe to the Company as his manager and stated her duties to include inter alia tour bookings, strategy and promotion. In order to avoid a situation where accounts will be disputed, the Company set in place a procedure for the remittance of monies received from performances, tours and brand endorsements involving Skales. The procedure implemented at the beginning of the Contract was the payment of all monies received in pursuance of performances and endorsements into the Baseline account, whereupon the 30% due to Skales would be transferred to his (Skales’) account after the deduction of expenses. The above procedure was implemented at the beginning of the Contract and monies were remitted in the manner stated above. The Company however noticed that rather than remit monies to the Company account as agreed, Teresa Osagioduwa Osarenkhoe falsely dictated to event promoters that monies were to be paid to her personal accounts.