“Blord may be Innocent but?” Celebrity Lawyer Stan Alieke Gives Breakdown of Billionaire’s Crimes

• Amid the recent controversies surrounding Nigerian billionaire and fintech owner Blord, more clarity on his issue has emerged online
• Celebrity lawyer Stan Alieke in a viral post shared on his page, explained the intricacies of Blord's case with Nigerian police and why he was accused of terrorism financing
• Alieke shared that Blord may be innocent of the allegations levelled against him but is guilty of lacking the necessary licenses and certificates
• After his comments about Blord's arrest went viral Legit.ng reached out to a Legal counsel, Barr. Onwuka Egwu for a clearer insight on the issue

The controversial issue and arrest of Nigerian cryptocurrency billionaire Linus Williams, better known as Blord, seems to have begun to gain clarity.

Celebrity legal practitioner Stan Alieke recently stirred emotions online with some insights he shared about Blord's case with the police and why he was arrested.

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He noted that the billionaire's case could still be proven innocent, but not on all grounds. Alieke pointed out that a couple of things Blord most definitely did wrong led to his arrest for terrorism financing.

Necessary licenses and certificates

According to Stan Alieke, Blord flouted at least two significant things which have put him in a dire situation which are compliance and failure to get the necessary licenses and certificates for his fintech business.

Stan Alieke noted that as a fintech company in Nigeria, to run successfully, the business must get compliance certificates from SEC, EFCC, NFIU, CBN and the NCC.

Legit.ng recalls reporting when Blord was released from police custody after spending three days in jail.

See the viral clip below:

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Reactions trail Alieke's revelations about Blord's arrest

Here are some of the comments that trailed Stan Alieke's revelation:

@uduroadboy:

"You mean KYC “know your customer” not KFC “Kentucky Fried Chicken."

@prince_izuu:

"My Professional advice: 1. BLord should employ the services of a senior person in the banking industry, he can even offer a higher pay for them to agree to work with him. 2. BLord should step down as the CEO of his company and hand it over to the person and he will only act as the Chairman of the group."

@chikezirim_must_shine:

"You never promoted this guy or his business but now he is in trouble you are keeping up with the case!"

@francisco_godwin_jp:

"Why will u tag IPOB in this ur story? Is IPOB a terrorist Organization?"

@endylight1:

"How about Yahaya Bello? Arrest him now."

@oluchukwu_____:

"I must be legally rich... Billionaires wey go make am with clean hands let’s know ourselves."

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@bigstan92473:

"He has the money and he’s got a good lawyer that saved him from the claws of EFCC so why didn’t the lawyer put him through all this ? Yes you can’t just wake up and start running apps up and down! It should be Licensed and verified by the regulatory body."

@itz_ritagold:

"Hmmmm in all, it’s cheaper to have a lawyer as a business owner than to wait for wahala to come first."

"He flouted the rules of investment" - Barr Onwuka

After Stan Alieke's comments about Blord went viral, Legit.ng reached out to a legal counsel, Barr Onwuka Egwu for a clearer insights into the issue without any ambiguity. He said:

"Nigeria is not a banana republic; there are rules/compliances for every line of business or investment. Get the compliances or you will surely run into trouble with the authorities and you can even end up in jail. The simple truth is that he flouted some basic rules of investment and hedge fund management."

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Video as VDM brags about Blord's arrest

Meanwhile, Legit.ng reported that activist Verydarkman raised eyebrows online after he made claims about Blord's recent police detention.

Reports went viral on July 15 that the popular crypto trader was in the custody of the Force Criminal Investigation Department (FCID) in Abuja.

The social media activist came forward to question the businessman about his claimed influence as he made a promise to the FCID, igniting reactions online.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng