Court Orders Arrest Of Imo Deputy Speaker Over Alleged N785m Fraud

Justice Inyang Ekwo of a Federal High Court in Abuja, has granted an order to the Economic and Financial Crimes Commission (EFCC) to arrest and detain the Deputy Speaker of the Imo State House of Assembly, Hon  Amarachi Iwuanyawu over an alleged N785M fraud.

The Deputy Speaker is the Chairman of an Abuja based Sun Gold Estate Limited,  the firm he allegedly used to perpetrate the N785M fraud.

The Judge granted the order on Friday while ruling in an ex-parte application brought before him by the Executive Chairman of EFCC.

Justice Ekwo ordered that when apprehended, the Imo lawmaker should be detained till February 23 next year when he is expected to be brought to the court by the anti-graft agency.

In the ex-parte application argued by Olarewaju Adeola on behalf of the EFCC Chairman,  the Deputy Speaker was alleged to have in 2012 entered into an agreement with another Abuja based Company, Hokiz Investment Limited.

In the agreement, the Deputy Speaker allegedly used his Sun Gold Estate Limited to enter into an agreement to build 14 units of 4 bedrooms terrace and one block of 6 flats on the land of Hokiz Investment Limited at Mabushi in Abuja.

EFCC claimed that the two parties agreed that 40 percent of the buildings would be allocated to Hokiz Investment Limited being the owner of the land while Sun Gold Estate, as developer, and belonging to the Deputy Speaker would retain 60 percent.

However, upon completion, Sun Gold Estate Limited was said to have sold off all the buildings without the knowledge of the land owner.

The value of the 40 percent of the buildings put at N785M was said to have been made away with by the Chairman of the Estate Developer who is the current Speaker of Imo State House of Assembly.

EFCC informed the court that a petition against the Deputy Speaker and signed by  Abdullahi Malik, a Senior Advocate of Nigeria SAN on behalf of the aggrieved party was being investigated.