A 43-year-old realtor, Olumade Owoseni, was arraigned on Friday before an Ikeja Magistrates’ Court in connection with an alleged N19 million fraud.
Owoseni, whose residential details were not disclosed, is facing charges of conspiracy, obtaining by false pretenses, and stealing. He has pleaded not guilty to all charges.
The Prosecutor, Inspector John Iberedem, informed the court that Owoseni’s alleged offenses occurred in March 2020 at Gracemade Homes and Property, located in the Ketu area of Lagos.
Iberedem explained that Owoseni took N19 million from the complainant, Mrs. Ifeoluwa Bello, under the pretext of selling her seven plots of land but failed to deliver the properties.
Iberedem detailed how Mrs. Bello, a businesswoman, had been approached by the company’s consultant in 2020, encouraging her to invest in real estate.
Acting on this advice, she transferred N19 million in two separate payments to Owoseni for the acquisition of the seven plots.
However, after the payments, Mrs. Bello’s attempts to contact the company for updates on the land became futile, with no response forthcoming.
This led to Owoseni’s eventual apprehension and handover to law enforcement.
The prosecutor emphasized that the charges brought against Owoseni are in violation of Sections 280(1)(a)(b), 314, and 411 of the Criminal Law of Lagos State, 2015.
In court, Magistrate E. Kubeinje granted Owoseni bail, setting the amount at N5 million.
As a condition of his bail, two sureties are required, each in the same sum. The sureties must provide proof of stable employment and tax payments to the Lagos State Government as part of the bail conditions.
The case was adjourned until November 13 for further mention.
