Court denies two MDs bail over N120m land scam

The judge while rejecting the bail applications, describing duo as flight risks. Okeke, Ndigwe, and the Managing Director (MD) of Forthright Properties Ltd, Isaac Akintoye, are standing trial alongside four firms before the court on a 16-count charge preferred against them by the Economic and Financial Crimes Commission (EFCC ). Ruling on the bail applications filed by the defendants, the judge observed that the EFCC’s claim that first defendant Okeke jumped administrative bail, and that third defendant Ndigwe had no verifiable address, were not controverted. “The first defendant’s bail was opposed by the prosecution on the ground that he jumped the administrative bail granted him at the EFCC office and evaded arrest until he was apprehended on May 10. The applicant’s counsel never replied to this weighty allegation in all the documents submitted before the court. I therefore hold that his application fails and bail is hereby refused”, Justice Dada held In rejecting the third defendant’s application, the judge found that “…not having a source of income or a traceable address, there are indications that he may not be available for his trial.” Bail was, however, granted Akintoye in the sum of N500,000 with one surety in the like sum. Justice Dada adjourned till June 8 for trial. On May 15, the defendants pleaded “not guilty” to a 16-count charge of stealing and fraud. According to EFCC counsel Muhammed Bashir, the offences were committed in Lagos between November 14, 2005 and August 2014. The defendants allegedly received sums totaling N120m in tranches of N68,400,000, N1,800,000, N5,000,000, N6,000,000, N10,000,000, N8,500,000, among others. Okeke and his two firms were indicted in counts 1 to 12, Akintoye and his firm were mentioned in count 12, while Ndigwe and his company appeared in counts 13 to 16.]]>