N124 MILLION FRAUD: ESTATE DEVELOPERS TO SPEND WEEKS BEHIND BARS

IKEJA, Lagos, Nigeria – A Special Offences Court sitting in Ikeja has ordered the continue remand of an estate developers, Samuel Okeke and Ifeanyi Ndigwe in prison custody pending conclusion of their trial. Justice Mojisola Dada, however granted bail in the sum of N500,000 with one surety in like sum to the second defendant, Isaac Akintoye. Surety must be a tax payer.

The three defendants and others were arraigned on 16 count charge by the Economic and Financial Crimes Commission, EFCC before the court on allegation of N124 million fraud. Other defendants in the suit are the company which are Samadores Ltd, Aqua Rock Real Estates, Forthright Properties Ltd and Iccon Communications Ltd. 

In her ruling, Justice Mojisola Dada upheld prayers sought by the prosecution which argued that the two defendants did not have verifiable source of living and residential address and if granted bail it remains a flight risk.

“Intelligence report received by the investigation team revealed that when the first defendant got wind of the pending investigation, immediately proceeded to the High Court of Ogun State, thereafter refused to honour commission’s invitation. On March 26, 2015, the applicant reported to the commission with his counsel and was interviewed by the investigation team after which he made statements in writing which were later discovered to be false. 

“The applicant was granted administrative bail on the same day with a directive that he should report for further investigation but he never did until May 10, 2018, when he was arrested for the purpose of bringing him to stand trial before this court, ” prosecution prayed. 

The judge further said that all the documents placed before the court by their counsel are not in any way in support of their arguments to ascertain that the defendants would not jump bail. Earlier before the ruling, the prosecuting counsel, Mr. Mohammed Bashir informed the court that the duo jump adminstrative bail and they were later rearrested by their intelligence team. The court fixed June 8 and 26, for commencement of trial.