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Fraudsters Sell Lagos Lagoon For N787 million

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A Nigerian businessman based in the United States has reportedly been defrauded of the sum of N787.5 million after he reportedly purchased the lagoon.

The N787.5 million was reported to be part payment for 150 plots of the Lagos lagoon.

Speaking to detectives, the victim, Kennedy Chukwuemeka Nwabuoku, was reported to have told DCP Abutu Yaro, at the Force Criminal Investigations and Intelligence Department, FCIID,, Alagbon, how he had paid the sum of N577,590, 792 in installments among other charges, plus another N18million for bush clearing in February, and how the agents were sending him pictures and videos of caterpillars in action at the purported site located at Ifedele Agunbiade Village, Sangotedo, in Eti-Osa area of Lagos.

The duped businessman told police sources that he bought the said land with a foreign partner and had paid in fiduciary trust, sending monies on different occasions through his company, KenBouk Global Investment Ltd.

The agents who sold the land, identified as Emeka Okoronkwo and Michael Owolabi Alonge, had according to Nwabuoku offered the land for sale at N5,250,000 per plot with Certificate of Occupancy (C of O).

News agency, NewsmakersNG, reports that Nwabuoku’s family members in Nigeria who wanted to see the site were told that the land was in an area bought by prominent Nigerians like former President Olusegun Obasanjo and Oba Riliwanu Akiolu, and it was cordoned off so that ordinary citizens could not gain access.

Upon suspicion of a foul play, Nwabuoku was reported to have sent the C of O to a friend to verify, with a return report which indicated that no such land or location described in the document existed.

Nwabuoku following the report decided to visit Nigeria to inspect the said land for which he had paid the property agent, Okoronkwo, who was identified as owner of Kings Court Realtors at Plot 321A, Akin Ogunlewe Street, Victoria Island.

Okoronkwo, when arrested and quizzed on November 8, 2017, admitted to collecting the sum of N603,000,000 for 100 plots, along with agency fees and legal fees through transfers to Kings Court Realtors’ accounts in two banks.

Detectives further found out that Nwabuoku transferred the monies in the following order over a period: N229,000,000, N86,000,000, N120,000,000, N41,300,000, N11,291,000, and N90,000,000.

The C of O which was issued was also reported to have been fake witrh Okoronkwo masterminding the fraud.

When Nwabuoku arrived Nigeria and insisted on seeing the land, Alonge was reported to have taken Nwabuoku to a location far inside a wooded area that led to the lagoon with canoes going back and forth.

Nwabuoku in his petition stated: “Mr Michael Owolabi Alonge started pointing around and towards the lagoon, as if he was not sure where the land is anymore.”

Nwabuoku added that when he demanded a refund of the money, he was threatened by the men adding that there was no reciept for the transaction made.

Alonge is reportedly on the run while detectives are reported to have completed investigations into the matter which has been charged to court with Sgt Morufu Animashaun as police lawyer.
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