Estate Agent Pays Back N49m To Scam Victims

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A Lagos-based estate agent, Bayo Lawal who is standing trial for defrauding 200 intending tenants of over N49 million has agreed to repay the victims by selling some of his property.

Bayo alongside one Femi Johnson are facing trial before an Ikeja High Court presided over by Justice Habeeb Abiru on a 119-count charge bordering on conspiracy and fraud.

They were accused by the Economic and Financial Crimes Commission (EFCC) of defrauding the intending tenants between 2005 and 2008 under the pretext of securing accommodation for them.

When the matter came up for trial on Monday, his counsel, Mr. A. D. Lasisi told the court that 46 years old Lawal had entered a plea bargain agreement with the EFCC.

Lasisi said the estate agent, according to the plea bargain, had granted the EFCC Power of Attorney to auction or sell some of his property to any interested buyer and use the proceeds to restitute the victims.

The said properties are located at 5 and 55 Olaiya Street , Mafoluku, Oshodi; 14 Orobiyi Street, Oshodi; 15 Sokunbi Street, Mushin and 20 Ogunkoya Street, Oshodi, Lagos .

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EFCC counsel, Mr. Anslem Ozioko said the agreement was favourable to the victims who have been clamouring for the repayment of their money.

Ozioko, however hinted that Lawal and his accomplice may likely face jail terms despite the plea bargain because of the gravity of their crime.

Some of the victims who besieged the court premises during the court proceeding expressed their happiness over the development.

One of the victims, Olayode Babatunde and Lukman Balogun said the sales should be done as soon as possible so that they can recover their money.

The two accused persons are presently being remanded in Kirikiri Maximum Security Prisons.

—Henry Ojelu

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