Court Jails Mortgage Banker 20years for Property Fraud

Justice I. O. Ijelu of the Lagos State High Court sitting in Ikeja, Lagos, on Monday, August 25, 2025, convicted and sentenced one Sulaiman Olayiwola Gbajabiamila to 20 years imprisonment for N31m  property  fraud.

Gbajabiamila was arraigned on September 19, 2023, by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission , EFCC, on a seven-count charge bordering on stealing, obtaining under false pretences, forgery, and retention of proceeds of crime to the tune of N31m.

One of the charges reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometimes in 2021 in Lagos, within the jurisdiction of this Honorable Court, with dishonest intent, stole and converted to your own use the sum of N31,000,000.00 property of Lateef Ayo Adeyemo.”

Another charge reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometime in 2021 in Lagos, within the jurisdiction of this Honorable Court, with intent to defraud, forged a Sterling Bank Manager’s cheque no. 21664497 dated 20th October 2021 with the value of N10,000,000.00 in favor of STB Building Society Limited.”

He pleaded “not guilty” to the charges when they were read to him, leading to a full trial.

The prosecution counsel, Abdulhamid L. Tukur, presented two witnesses and tendered several documents admitted in evidence against the defendant.

In his allocutus, defence counsel,  T. E. Gbado, prayed the court to “temper justice with mercy,” citing his client’s remorse and status as a first-time offender.

Delivering judgment on Monday,  Justice Ijelu convicted and sentenced Gbajabiamila to five years imprisonment on count one (stealing), with an  option of  ₦1 million fine; seven years on count two (obtaining by false pretences); two years each on counts three, four, and five (forgery), with the option of  ₦1 million fine on each count; two years on count six (using false documents), with an option of  ₦200,000 fine; and four years on count seven (retention of proceeds of crime), with an option of  ₦500,000 fine.

His journey to prison began after he was introduced by an estate agent, Lukman, to the petitioner, Lateef Adeyemo, who needed to acquire a flat in Lagos Homes in the Iponri area of Lagos.
 
Further investigation revealed that the petitioner paid a total sum of N31m to Gbajabiamila for a two-bedroom apartment, but efforts to get the property proved abortive as he diverted the money for his personal use.