The Economic and Financial Crimes Commission (EFCC) has arrested the Managing Director of Debasilio Construction and Estate Development Limited, Basil Iwoba Ochili, over an alleged N128 million land fraud.
Ochili was arrested by operatives of the Enugu Zonal Directorate of the EFCC following a petition alleging that he obtained the money from a property transaction through false pretence.
According to the Commission, the suspect allegedly represented himself in September 2022 as the owner of five plots of land located beside the Anambra State Secretariat, near Stamford Hotel, Aroma Junction, Awka, Anambra State.
The petitioner reportedly relied on the representation and purchased the five plots for N128 million, with the payment made into the bank account of Ochili’s company.
However, the petitioner was allegedly unable to take possession of the property after the transaction.
Preliminary investigations by the EFCC reportedly showed that Ochili was aware that the land encroached on the premises of the Anambra State Government Secretariat but allegedly proceeded to offer it for sale.
The Commission said that rather than refund the N128 million paid by the petitioner, the suspect allegedly issued two dud cheques to the complainant.
Further investigation reportedly revealed that Ochili used part of the proceeds to settle personal debts.
The EFCC also alleged that Debasilio Construction and Estate Development Limited had never been tax compliant.
The Commission said the suspect would be charged to court upon the conclusion of investigations.
