N20m Fraud: 2 To Face Trial

The Lagos State Police Command is to ensure that two land developers, who allegedly duped 75 accommodation seekers of about N20million, are charged to court.

The two men aged 35 and 40 were Wednesday, 13 September, paraded by the police in connection with the fraud.

The men, both from Kwara State, were interrogated by detectives at the State Criminal Investigations Department (SCID), Panti, where they confessed to the crime.

According to them, there was an agreement between the developer and the landlord of a building situated at 10B, Adeniyi Street, Olodi, Apapa to renovate the building and pay the owner over a period of 17 years. This, they said, is to allow the developers to recover their investments and hand over the property to the landlord.

The developer, whom we gathered, had started building the house with his money, placed a notice for accommodation seekers who were told the house would soon be ready for rent. It was learnt that some members of the public thronged the place and the developer collected money ranging from N200,000 to N560,000 from each of them.

The developer, it was learnt, took advantage of the rush for the 10-flat building and collected money from over 70 persons, assuring them that they would pack in as soon as possible. This, however, did not happen.

It later dawned on the would-be tenants that they had been duped and this prompted them to lodge a complaint at the Olodi Apapa Police Station where policemen were detailed to arrest the developer. The case was later transferred to the State Criminal Investigations Department (SCID), Panti, Yaba, Lagos.

Policemen who went to two banks, Oceanic and Sterling banks, in which the developers claimed to have account discovered that the accounts were in red with just N16,000 in each of them.

On Wednesday, September 14, the victims carrying their receipts protested to the office of the Lagos State Police Public Relations Officer, Samuel Jinadu.

In their response, the developer confessed to collecting money from those who have their receipts signed by them in the name of Adebalis Investment Company, adding that most of them paid the money by instalments.

According to the developer, he collected the money with the intention of collecting additional three to four years rents from those who will eventually be given accommodation to enable him refund to those who will not be lucky to benefit. He pleaded to be released to enable him rally round to refund the money.

A young girl, Joy Orude, said she is into petty trading and was able to raised N200,000 from her monthly contribution of N30,000 to pay for one room apartment in the building.

Kingsly Odinaka Chukwu said his new wife is expected to join him soon which is why he sought a good accommodation but his plan has been dashed as he no longer has money to pay for another accommodation.

However, a police source in SCID, Panti told P.M.NEWS that the case would be charged to court soon.

—Emmanuel Udom