A Federal High Court in Lagos has set November 26, 2024, for the arraignment of Olukayode Olusanya, CEO of Oak Homes Limited, on multiple charges including theft and conspiracy.
The Nigeria Police have brought five significant charges against Olusanya, including threats to life, obtaining money under false pretences, and theft, as outlined in suit number FHC/L/261C/2024.
One of his alleged accomplices, Lynda Umeh — head of sales and marketing at Oak Homes, is said to be at large.
The allegations stem from a suspected fraudulent scheme in which Olusanya and Umeh purportedly attempted to sell two three-bedroom flats at Oak Residence, Victoria Island, to Anthony Ehiedu Ugbebor, an engineer based in the United States.
The alleged questionable dealings occurred between November 2017 and August 2020, resulting in Ugbebor being allegedly duped out of a total of N152 million, which he was led to believe would secure ownership of the properties by February 2019 — a promise that went unfulfilled.
Furthermore, Olusanya is accused of embezzling these funds for personal use and conspiring to threaten Ugbebor's life should he return to Nigeria after reporting the fraud to authorities like the Economic and Financial Crimes Commission (EFCC).
These charges violate various sections of the Criminal Laws of the Federation of Nigeria, 2004, and the Advance Fee Fraud and Other Related Offences Act, 2004.
The hearing, initially set for earlier this week, was delayed due to the presiding judge's national assignment.
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