According to EFCC, Oloche also set up a live broadcast channel with studio equipment for his Theobarth Global Foundation with the funds of his subscribers.
The Economic and Financial Crimes Commission (EFCC) has said that fresh facts from its investigation revealed how the General Overseer of Faith On The Rock Ministry International, Apostle Theophilus Ebonyi Oloche, acquired a hotel and factory with subscribers’ funds.
The cleric was recently arrested by the commission over alleged N1.3 billion fraud.
The anti-graft commission in a statement issued on Wednesday said that its investigation showed that the cleric acquired a 23-room hotel, a ‘pure water’ factory, two blocks of primary school and two bungalow offices at Nyanya-Gwandara, New Karu, Abuja and five-bedroom duplex at Karsana, Abuja with the proceeds of his fraudulent dealings with his subscribers.
According to EFCC, Oloche also set up a live broadcast channel with studio equipment for his Theobarth Global Foundation with the funds of his subscribers.
SaharaReporters on Monday reported that EFCC said it arrested Oloche in 2023 for allegedly defrauding his church members and other Nigerians to the tune of N1,319,040,274.31 by using fake grants from the Ford Foundation.
The anti-corruption agency said that the cleric was specifically arrested for defrauding his victims, comprising non-governmental organisations (NGOs) and individuals by advertising an intervention project through his NGO - Theobarth Global Foundation, claiming that the Ford Foundation was offering a grant of $20,000,000.000 (N20 million).
Oloche allegedly deceived his victims to subscribe as beneficiaries of the phoney grant by asking them to pay for registration forms and clusters, making each subscriber pay N1,800,000.
Through this arrangement, Oloche allegedly raked in N1,391,040,274.31.
His subscribers are innocent and unsuspecting Nigerians and NGOs across the country, according to the EFCC.
The EFCC said on Wednesday that its investigation showed that Ford Foundation had no arrangement, grant, relationship or business with Oloche.
According to the commission, the Foundation denied him and his NGO, stressing that it had no link whatsoever with them.
“The Commission has also traced five properties he acquired as proceeds of his criminal dealings.
“Oloche is still reportedly reaching his subscribers on some social media platforms to market his spurious grant from Ford Foundation,” the statement added.