Abu Abel arrested by police for allegedly committing an N477 million land fraud
A well-known socialite has been arrested by police officers at the Force Criminal Investigation Department (FCID), Alagbon, on suspicion of participating in a
land scam for N447 million.CSP Taiwo Oyewole conducted an operation at a Victoria Island home where the suspect, Olaseni Johnson Olayinka, also known as Abu Abel, was allegedly hiding before being apprehended.
According to information obtained, Olayinka was arrested when Doyin Investment Group of Companies petitioned Mrs. Margaret Ochalla, the Assistant Inspector General (AIG) in charge of FCID.
Three pieces of land located on Augustina Orji Street, under Ojomu Chieftaincy Family land, Oke-Arin Village, Mayegun, in Eti-Osa Local Government Area of Lagos, were purportedly fraudulently sold to the petitioner by the suspect.
In 2023, he was accused of claiming ownership of the three plots (1, 4, and 10) that totaled around 1,800.311 square meters.
A Deed of Assignment was properly executed between the parties after Abu Abel allegedly persuaded the corporation to pay N447 million for the land.
In 2023, he was accused of claiming ownership of the three plots (1, 4, and 10) that totaled around 1,800.311 square meters.
A Deed of Assignment was properly executed between the parties after Abu Abel allegedly persuaded the corporation to pay N447 million for the land.
But after the deal, the business found that the land was already encumbered and under a third-party claim.
Upon being questioned, the suspect acknowledged knowing about the problem and pledged to reimburse the money. He allegedly made partial refunds of N230 million but failed to pay the remaining N217 million.
He reportedly started acting evasively and then began threatening corporate officials.
The petitioner claims that on January 11, 2024, Abu Abel signed a formal commitment to pay back the remaining amount and pledged his property at Block C, Plot 22, Oba Amusa Adebambo Avenue, Lekki, as collateral, but he was unable to do so.
Upon being questioned, the suspect acknowledged knowing about the problem and pledged to reimburse the money. He allegedly made partial refunds of N230 million but failed to pay the remaining N217 million.
He reportedly started acting evasively and then began threatening corporate officials.
The petitioner claims that on January 11, 2024, Abu Abel signed a formal commitment to pay back the remaining amount and pledged his property at Block C, Plot 22, Oba Amusa Adebambo Avenue, Lekki, as collateral, but he was unable to do so.
The defendant allegedly launched a fundamental human rights enforcement suit instead of submitting to the deal, which the police characterized as a ruse to impede justice.
According to a person with knowledge of the case, the suspect is also being looked into for possible ties to a covert cult organization that is said to be active in high-profile fraud, land grabs, and criminal intimidation in the states of Lagos and Ogun.
CSP Taiwo James and her tactical squad carried out AIG Margaret Ochalla's order to arrest him. The insider revealed that the operation, which was intelligence-driven, was effectively completed in Abuja.
Important documents, such as payment receipts, the Deed of Assignment, written undertakings, and correspondence with the complainant, were found on the suspect.
According to a person with knowledge of the case, the suspect is also being looked into for possible ties to a covert cult organization that is said to be active in high-profile fraud, land grabs, and criminal intimidation in the states of Lagos and Ogun.
CSP Taiwo James and her tactical squad carried out AIG Margaret Ochalla's order to arrest him. The insider revealed that the operation, which was intelligence-driven, was effectively completed in Abuja.
Important documents, such as payment receipts, the Deed of Assignment, written undertakings, and correspondence with the complainant, were found on the suspect.
He is scheduled to be arraigned shortly on a number of counts, including conspiracy to defraud in violation of the Criminal Code Act and the Advance Fee Fraud and Other Related Offenses Act, 2006, criminal breach of trust, and acquiring money under false pretenses.
The Inspector-General of Police, IGP Kayode Egbetokun, has been urged by Doyin Investment Group to make sure the suspect is brought to justice and that the company's unpaid N217 million is retrieved.
This was a deliberate scam. We paid the money legitimately and trusted the system, but now the business is losing money. We applaud the authorities for pursuing him, and we have faith that justice will be done," a corporate spokesperson said.
The Inspector-General of Police, IGP Kayode Egbetokun, has been urged by Doyin Investment Group to make sure the suspect is brought to justice and that the company's unpaid N217 million is retrieved.
This was a deliberate scam. We paid the money legitimately and trusted the system, but now the business is losing money. We applaud the authorities for pursuing him, and we have faith that justice will be done," a corporate spokesperson said.
When contacted, ASP Ameenat Mayegun, the FCID spokesman, stated she will get back to us.
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