By Isaac Mission
The Economic and Financial Crimes Commission (EFCC) has arrested Basil Iwoba Ochili, managing director of Debasilio Construction and Estate Development Limited, over an alleged N128 million land fraud in Anambra State.
Ochili was arrested by operatives of the EFCC’s Enugu Zonal Directorate following a petition alleging that he fraudulently sold five plots of land to a buyer for N128 million.
According to the anti-graft agency, the transaction took place in September 2022. The land was reportedly located beside the Anambra State Secretariat, near Stamford Hotel, Aroma Junction, Awka.
The petitioner allegedly paid the full N128 million into the company’s account after Ochili presented himself as the legitimate owner of the property.
However, the buyer was reportedly unable to gain possession of the land after completing the payment.
The EFCC said preliminary findings indicated that Ochili was aware that the property encroached on land belonging to the Anambra State Government Secretariat but proceeded with the sale.
Rather than refunding the money, the suspect allegedly issued two cheques to the buyer which the commission described as dishonoured.
Further investigation by the EFCC allegedly showed that part of the money was used by Ochili to settle personal debts. The commission also said Debasilio Construction and Estate Development Limited had not been tax compliant.
The EFCC said investigations are still ongoing and that Ochili would be prosecuted once the investigation is completed.
