Court Hears Testimony in N152m Fraud Case Against Oak Homes CEO

•Rejects confessional statement

Wale Igbintade

An Assistant Superintendent of Police (ASP), Egho Amiebelomo, yesterday testified before the Federal High Court in Lagos in the ongoing N152 million fraud case involving Chief Executive Officer of Oak Homes Limited, Olukayode Olusanya, and his company.

Olusanya and his company were facing a four-count charge bordering on conspiracy, obtaining money by false pretence, fraud, and stealing, brought against them by the Nigeria Police.

He was arraigned on November 26, 2024, and pleaded not guilty.

According to the police, Olusanya conspired with the company’s Head of Sales and Marketing, Lynda Umeh – currently at large – to defraud a Nigerian-American engineer, Anthony Ugbebor.

The prosecution alleged that between November 8, 2017, and August 4, 2020, the duo deceived Ugbebor into paying N152 million for two three-bedroom apartments at Oak Residence, Victoria Island, with a promise to hand over possession by February 28, 2019 – a promise that was never fulfilled.

At the last adjourned date on February 10, 2025, the prosecution sought to tender the complainant’s petition and the defendant’s statement as evidence, but the defence objected to their admissibility.

Justice Musa Kakaki had reserved ruling until April 15.

At the resumed hearing yesterday, Kakaki admitted the complainant’s petition as evidence, marking it as Exhibit A.

However, the court rejected the defendant’s confessional statement, ruling that the prosecution failed to comply with Section 17(2) of the Administration of Criminal Justice Act.

During the hearing, Amiebelomo, the first prosecution witness, testified that he invited three individuals during his investigation – Mrs. Kofo Coker, Mr. Seye, and Mr. Shuiabu – and obtained documents from them, including a payment receipt and an offer letter from Oak Homes dated 2017, which Ugbebor accepted.

Under cross-examination by the defence counsel, Adeleke Agboola (SAN), Amiebelomo confirmed the complainant’s petition was dated and submitted on December 27, 2023.

He also admitted that he saw the complainant for the first time when the case was referred to his department by the ASP, and Ugbebor made and signed his statement in his presence.

However, Amiebelomo stated that he was not a signature expert.

He also revealed that the Economic and Financial Crimes Commission (EFCC) had previously handled the matter, but he was unaware that Olusanya had refunded N110 million to EFCC via bank draft.

He further stated that Olusanya never mentioned the repayment during his investigation.

When asked about a civil case (Suit No. LD447LMW/2023) pending before the Lagos State High Court involving a pre-emptive injunction against the complainant and the EFCC, Amiebelomo said he was not aware of it and had not been served.

Agboola questioned the propriety of police involvement in what he described as a purely civil matter, citing judicial precedents.

However, the prosecution counsel, Supol M.A. Omo-Osagie, objected, arguing that a civil transaction could also give rise to criminal liability, citing Section 135 of the Evidence Act to support his argument.

Counsel for Oak Homes, Mr. Jude, challenged the completeness of the police investigation. But Amiebelomo maintained it was thorough, stating that he visited the project site and found the building incomplete.

The witness added that Olusanya told him the property could not be handed over at the agreed price due to rising costs, but did not mention COVID-19 or any sealing of the building by the Lagos State Government as reasons for the failure to deliver.

The court adjourned further hearing to July 8, 2025.