The Nigerian police on Tuesday arraigned First City Monument Bank (FCMB) and three other defendants at the Ikeja High Court over an alleged mortgage fraud case. The other defendants include Polycarp Okogun, Batik Line International Ltd, and Bolaji Adebajo (who remains at large).
They face a four-count charge related to conspiracy, forgery, and fraudulent conversion.
Court Proceedings According to the News Agency of Nigeria (NAN), Okogun pleaded not guilty on behalf of himself, FCMB, and Batik Line International Ltd.
Prosecuting counsel Daniel Apochi urged the court to remand the defendant in a correctional facility, while defense counsel M.O. Abdul requested bail, stating that an application had already been filed and served to the prosecution.
Justice Ismail Ijelu ruled that the defendant be remanded in a correctional center until the bail hearing scheduled for March 26, when the trial will also commence.
Details of the Alleged Fraud The prosecution claims the fraud took place between 2008 and 2009 in Lagos, involving forged signatures of complainant Mrs. Grace Akinwusi on multiple legal documents. These include:
- A legal mortgage authority
- A deed of assignment
- An irrevocable power of attorney
- A memorandum of understanding
The forged documents were allegedly used to fraudulently transfer ownership of Akinwusi’s property, located at No. 5B, Sasegbon Street, GRA, Ikeja, Lagos, for the defendants’ personal gain.
The prosecution stated that the alleged crimes violate Sections 287, 363, 365, and 411 of the Lagos State Criminal Laws, 2015.
The case is set for further hearings on March 26.
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