A Lagos State High Court has sentenced a mortgage banker, Sulaiman Gbajabiamila, to 20 years in prison for property fraud totalling N31 million.
Justice I. O. Ijelu delivered the judgment on Monday, following a full trial initiated by the Economic and Financial Crimes Commission (EFCC).
Gbajabiamila was arraigned on September 19, 2023, on a seven-count charge that included stealing, obtaining by false pretences, forgery, and retaining proceeds of crime.
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According to one of the charges, he was accused of stealing and converting N31 million belonging to a man named Lateef Ayo Adeyemo in 2021.
Another charge alleged that he forged a Sterling Bank manager’s cheque for N10 million.
The defendant pleaded not guilty, leading to the prosecution presenting two witnesses and various documents as evidence.
The court found him guilty on all counts.
In his ruling, Justice Ijelu handed down varying prison sentences for each count, with some offering a fine as an alternative.
He was sentenced to five years’ imprisonment for stealing, with an option of a ₦1 million fine.
He received seven years’ imprisonment for obtaining by false pretence.
For each of the three counts of forgery, he was given two years’ imprisonment, with an option of a ₦1 million fine per count.
He was also sentenced to two years’ imprisonment for using false documents, with an option of a ₦200,000 fine.
Additionally, he was given four years’ imprisonment for retaining the proceeds of crime, with an option of a ₦500,000 fine.
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The case stemmed from a transaction in which Gbajabiamila was introduced to the victim, Lateef Adeyemo, who wanted to purchase a two-bedroom apartment.
Adeyemo paid Gbajabiamila N31 million for the property, but the banker never delivered the flat and instead used the funds for his personal benefit.
