Estate agent gets three-year imprisonment over N6.9m fraud

Justice Kudirat Jose of a Lagos High Court sitting in Ikeja, has sentenced a real estate agent, Femi Alabi, to three years imprisonment for being guilty of defrauding 21 accommodation seekers of N6.9 million.

The judge ‎sentenced Alabi after he was re-arraigned alongside one Lateef Azeez.

He pleaded guilty to the charge brought against them by the Economic and Financial Crimes Commission (EFCC).

The duo had entered a plea bargain agreement with the anti-graft agency but Azeez was yet to be sentenced by the court.

While delivering judgment yesterday, Justice Jose convicted Alabi on 27-count charge bordering on conspiracy and obtaining money by false pretence.

The judge said the convict had inflicted untold hardship on the victims and callously deprived them of their hard-earned money with a false promise of accommodation.

She, therefore, sentenced him to three years imprisonment on each count. She said the prison term should be run concurrently beginning from Oct 12, 2016.

According to her, the defendant shall refund the sum of N1 million out of N6,970,000 as restitution to the victims.

“The defendant shall forfeit all his unexpired residue in the two sets of two-bedroom flat, six sets of mini flat apartments, six sets of a room self-contain apartments and a shop, all located and situated at No. 62, Brickfied Road, off Apapa Road ‎Ebute Metta (West) Lagos.”

She ordered the EFCC to work out a plan to recover the balance from the rent proceeds of the building used for the scam.

However, the EFCC counsel, Mr. M. S. Usman had earlier told court that Alabi and Azeez conspired to commit the offences between November 2011 and March 2012.