The Economic and Financial Crimes Commission has arraigned one Joseph Idakho and his company, Zamtrac Management & City Investment Limited, for property fraud.

Idakho was arraigned before Justice D.Z. Senchi of the FCT High Court in Abuja on Monday for alleged conspiracy, forgery and criminal breach of trust.

Detailing events that led to his arrest and arraignment, the EFCC in a post on Twitter said, “He allegedly defrauded one Hajiya Halima Babangida in a real estate development transaction that went awry.

“Babangida alleged in a petition to the EFCC that she entered into an agreement with the defendant’s company for development of six units of detached houses of five bedrooms each, including boys quarters, at Plot 2398 AO6, Cadastral Zone, Maitama District, Abuja.

“With her contribution being the land, while the defendant was to bear other costs of development.

“She claimed that they had agreed to share the property equally at the end of development but discovered to her chagrin that the defendant commenced sale of the property even before completion without her knowledge or approval.”

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