EFCC arrests real estate MD over alleged N128m land scam

The Economic and Financial Crimes Commission, EFCC, has apprehended Basil Iwoba Ochili, Managing Director of Debasilio Construction and Estate Development Limited, in connection with a suspected N128 million land scam in Anambra State. Ochili was taken into custody following a complaint alleging his false claim of ownership over five plots of land adjacent to the Stamford Hotel, near the Anambra State Secretariat in Awka.

The commission asserts that the petitioner transferred N128 million into Ochili's company account, believing in his ownership claim, but was unable to obtain possession of the land. Preliminary investigations indicate that Ochili was aware of the land's status as part of the Anambra State Government Secretariat's property, yet he still attempted to sell it.

Instead of returning the petitioner's funds, the suspect allegedly provided him with two fraudulent cheques. Furthermore, the EFCC alleges that Ochili utilized some of the money to settle debts, while his company remained non-compliant with tax regulations. The suspect is expected to face court following the completion of the investigations.