Home Gists Property developer jailed for 2,670 years for N25m scam

Property developer jailed for 2,670 years for N25m scam


A property developer, Alhaji Ayobami Oseni, was
yesterday sentenced to a cumulative jail term of
2,670 years by Chief Magistrate O. O. Olatunji of
an Ebute-Metta Magistrate’s Court for defrauding
133 accommodation seekers of N25 million.

Oseni was convicted by the magistrate after he
owned up to a 267-count charge of conspiracy,
obtaining under false pretences and stealing
slammed on him by the police.

The convict was sentenced to 10 years
imprisonment on each of the counts without an
option of fine.

The sentences, which are to run concurrently, take
effect from April 26, 2017 when Oseni was
remanded in prison custody following the
revocation of his bail.

In sentencing the developer, Olatunji held that the
offences contravened Sections 285, 312 and 409
of the Criminal Law of Lagos State, 2011.

He also ordered the Lagos State government to
sell the building and share the proceeds among
the 133 victims of the fraud.
The convict was arraigned by the Force Criminal
Investigation and Intelligence Department (FCIID)
on December 7, 2012.
He, however, pleaded not guilty upon his
arraignment. However, in the course of trial, Oseni
changed his lawyer about four times before
deciding to represent himself.
Afterwards, he changed his plea to “guilty.”

He denied being a fraudster and claimed that the
building contained eight apartments, not six, but
that it was “not normal” for 133 people to live in
eight apartments.

At the commencement of trial on February 27,
2013, prosecution’s lawyer, ASP Abraham Fadipe,
told the court that Oseni was the developer of a
onestorey building at No 3, Church Close, Ajao
Estate, Lagos.
He described the building as containing four mini-
flats and two self-contained apartments.

According to Fadipe, Oseni posed as a landlord
and erected ‘To let’ signs around Ajao Estate while
the building was under construction.

Oseni was said to have obtained rents, agency and
agreement fees ranging from N160,000 to
N300,000, totalling N25 million from at least 133
accommodation seekers on the pretext that each
of them would get an apartment in the building.
The prosecution called five witnesses, four of
whom testified that when they arrived at the
property to take possession, it was already

The prospective tenants later petitioned the Lagos
State Real Estate Transaction Department
(LASRETRAD), an agency of the Lagos State
Ministry of Housing on November 26, 2012.

The agency later invited the police and held
watching brief while trial lasted.


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