Court remands property manager for N132m fraud

Justice J.E Obanor of the Federal Capital Territory High Court, Abuja, on Thursday, June 17, 2021, remanded one Ifeanyi Israel for fraud.

Israel was arraigned by the Economic and Financial Crimes Commission EFCC alongside his company, UI Properties Limited, on one-count charge bordering on dishonesty, breach of trust and conversion of funds to the tune of N132,503,000 belonging to his client, a certain Dr J.K. Okoye.

The charge read: “That you, Ifeanyi Israel, and UI Properties Ltd., sometime in 2006 at Abuja within the jurisdiction of the Federal Capital Territory, being entrusted to collect and remit rent from tenants from 6 property at Wuse Zone 6, Utako, Garki in Abuja and Lekki Phase 1 in Lagos by one Dr J.K. Okoye received a total (sum) of N132,503,000 000 (One Hundred and Thirty Two Million Five Hundred and Three Thousand Naira only) from the tenants, dishonestly misappropriated the stated sum and thereby committed an offence contrary to section 311 and punishable under section 312 of the Penal Code Act, Laws of the Federation (Abuja), 1990.”

The suspect pleaded “not guilty” to the charge preferred against him and has been remanded at the Correctional Centre while the case was adjourned till 29th June, 2021 and 1st and 2nd July, 2021 for commencement of trial.

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