Former Nigerian senator and Silverbird Group founder Ben Murray-Bruce has disclosed how he fell victim to a sophisticated fraud scheme that cost him $3.5 million in a failed Kenyan cinema complex acquisition. The prominent media entrepreneur made this disclosure during his address at the 4th Peace Anyiam-Osigwe (PAO) Nigeria Digital Content Regulation Conference in Lagos’s Victoria Island.
The incident, which sheds light on the complexities and potential pitfalls of cross-border business dealings in Africa’s entertainment sector, occurred when Murray-Bruce attempted to expand his successful cinema business into the East African market. According to his account, the situation unraveled when his South African business partner, after receiving the transferred funds, allegedly registered the business solely under his own name, effectively cutting out Murray-Bruce from the multi-million dollar investment.
This revelation comes at a particularly significant time as Murray-Bruce announces his plans to pivot toward movie production, marking a new chapter in his extensive entertainment industry career. The entertainment industry is a very successful one. In all the things I have done, I have never made one move about movie making but now, I will,” he declared at the conference, indicating that this setback hasn’t diminished his enthusiasm for the industry.
The former senator’s disclosure wasn’t limited to the Kenyan incident. He also revealed ongoing legal challenges concerning his studio in Los Angeles, which involves a dispute with a prominent Hollywood actor, though specific details were not provided. These concurrent legal battles underscore the complex nature of international entertainment business ventures and the various challenges faced by African investors in global markets.
During his address, Murray-Bruce took a moment to pay tribute to the conference’s namesake, the late Peace Anyiam-Osigwe, sharing personal memories that provided a touching glimpse into their long-standing relationship. He recalled how Anyiam-Osigwe would visit his home on her bicycle during their childhood years, highlighting the deep connections that often characterize Nigeria’s entertainment industry leadership.
The conference, which drew numerous luminaries from Nigeria’s entertainment sector, including renowned filmmaker Mo Abudu, veteran actress Joke Silva, and actor Segun Arinze, served as a platform for discussing crucial issues facing the industry. The presence of Shaibu Husseini, executive director of the National Film and Video Censors Board, underscored the regulatory importance of such gatherings.
Murray-Bruce’s candid disclosure about his investment loss comes at a time when African entertainment industries are increasingly seeking cross-border collaborations and investments. His experience serves as a cautionary tale about the importance of proper due diligence and robust legal protections in international business dealings, particularly in the entertainment sector where substantial investments are often required.
Despite these setbacks, Murray-Bruce’s announcement of his planned entry into movie production suggests a strategic pivot rather than a retreat from the entertainment industry. His statement about dealing with “fundamental issues” in his upcoming productions indicates a desire to contribute meaningfully to the content side of the industry, perhaps drawing from his extensive experience as a media entrepreneur.
The gathering of industry heavyweights at the conference, including QEDNG publisher Olumide Iyanda, filmmaker Victor Okhai, and actress Wumi Toriola, reflects the growing importance of addressing regulatory and business challenges in Nigeria’s rapidly evolving digital content landscape. Their presence underscores the industry’s collective commitment to addressing these challenges while fostering growth and innovation.
This incident serves as a sobering reminder of the risks involved in international business ventures, even for experienced entrepreneurs. It highlights the need for stronger legal frameworks and due diligence processes in cross-border entertainment industry investments, particularly within Africa where different legal systems and business practices can complicate transactions.
