The last may not have been heard in the battle between Storm Records and FBS entertainment. FBS alleges that Naeto C breached a contract agreement when he received a cash deposit of N400,000 to perform at their show in Abuja scheduled in July, 2012, . The 10/10 rapper is alleged to have defaulted in his performance and refused to pay back the N400, 000.
A press release by FBS entertaiment a couple of days back reads...
"
REPORT OF FRAUDULENT OBTAINMENT OF MONEY BY MR NAETO CHIKWEWe write to report the case of obtainment by false pretense committed against our enterprise Fine Boy Swag Entertainment (herein referred to as “Our Company”) by Mr. NAETO CHIKWE.
(A musician by profession who is popularly known as “NAETO C” also herein referred to as “NAETO C”.)
We would like to state that we had discussions with NAETO C over a contract to perform at the show which was scheduled to hold at Cubicle Arena, Maitama Garden, Maitama on 18th of July 2012 by 5:00pm in Abuja, Federal Republic of Nigeria and he agreed to perform at the show.
Our agreement is detailed in a one page contract agreement dated 14th July, 2012 and signed by NAETO C and our enterprise.
Consequently, and as agreed upon discussions with NAETO C, Our Company paid a deposit in the sum of Four hundred thousand Naira (N400, 000.00) into NAETO C’s Guaranty Trust Bank (GTB) Account with the account details as follows Account Name: Naeto Chikwe. Acct Number: 01157******.
NAETO C defaulted in performing as agreed in the contract signed, and also failed to pay back the money paid in respect of the contract four hundred thousand Naira (N400,000.00) being the deposit paid in respect of the contract.
His actions as stated above apart from being a breach have also constituted an obtainment by false pretense which constitutes an offence under the laws of the Federal Republic of Nigeria.
We hereby write to inform the general public of the activities constituting a betrayal of trust and serious criminal offence which should be accorded attention by all concerned.
NAETO C’s actions have made Our Company to suffer damages, which among others include loss of good image, business goodwill and withdrawal of contract deals by clients as many clients now see Our Client as being unreliable.
Our discussions with NAETO C to recover the amount paid have been fruitless and have been met with insults.
We have written to EFCC to ensure that justice is done in respect of this matter and also to ensure that NAETO C is brought to book to curb the crime rate in Nigeria.
We will be available for further consultations in respect of this matter as the claims are not in any way frivolous".
Earlier today Storm Records released a statement explaining why Naeto C is not guilty of all the allegations of fraud brought against him. Representatives from the entertainment outfit have stated that “Naeto c agreed to the advanced payment and the agreement did not state that default to pay the full contract sum...”
FBS entertainment wrote EFCC two days ago asking the corruption body to investigate Naeto C concerning the breached contract. FBS entertainment also claims Storm Records have been aware of the ongoing drama between them and Naeto C but refused to comment until the level of media attraction on the issue rose.
Who is telling the truth and who is lying? Spotiks will keep our dear readers informed on any new development on this interesting saga of media rights laws and its effective use.
