The Economic and Financial Crimes Commission has arrested the Managing Director of Debasilio Construction and Estate Development Limited, Basil Iwoba Ochili, over an alleged N128m land fraud in Anambra State.
Ochili was arrested by operatives of the EFCC Enugu Zonal Directorate following a petition accusing him of allegedly offering five plots of land for sale despite not having ownership rights over the property.
The land, located beside Stamford Hotel near the Anambra State Secretariat at Aroma Junction, Awka, was allegedly presented to the petitioner as being owned by Ochili.
According to the anti-graft agency, the petitioner paid N128m into the suspect’s company account after relying on the claim but was subsequently unable to take possession of the property.
The EFCC said preliminary investigations indicated that Ochili allegedly knew that the land formed part of the Anambra State Government Secretariat property when he offered it for sale.
The commission further alleged that rather than refunding the money after the transaction ran into trouble, Ochili issued two cheques to the petitioner, which it described as dud cheques.
The agency also alleged that the suspect diverted part of the funds to settle debts, while preliminary checks showed that his company had not been tax-compliant.
The EFCC said Ochili remained in custody as investigations continued into the alleged transaction and the movement of the funds.
The commission added that the suspect would be charged before a court upon the conclusion of investigations.
The case forms part of the EFCC’s ongoing investigations into alleged financial crimes involving property transactions in the country.