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    Saturday, 17 November 2018

    SFU re-arraigns Badagry prince for defrauding late father’s estate

    The Special Fraud Unit of the Nigeria Police Force has re - arraigned a prince of Kweme Land in Badagry , Semasa James , for allegedly defrauding the estate of his late father by leasing out some buildings to Ecobank Plc .
    Semasa, who had been earlier arraigned on two counts of stealing and forgery , was re - arraigned alongside one Afolabi Kazeem on Monday before the Lagos State Special Offences Court on seven counts of conspiracy , cheating , stealing , forging of company resolution and fraudulent disposal of trust property .
    The duo pleaded not guilty to the charges .
    According to the SFU prosecutor , Mr O . O . Olabisi , the prince fraudulently converted N500 m property belonging to the late king between 2000 and 2017 .
    He said , “The defendant had in 2011 forged the resolution of a company called CAJ Industrial Enterprises, dated November 28 , 2011 .
    “ He had purported that the resolution was signed by his father , who was one of the directors of the company ; whereas , his father died nine years earlier on January 30 , 2002 .
    “ The defendant had forged the resolution with the intent that it would be acted upon as genuine to the prejudice of any person. ”
    The prosecutor further alleged that Semasa fraudulently sold a property belonging to his late father’ s estate to a private individual and illegally leased another property to Ecobank Plc .
    “ About July 2005 in Lagos , he fraudulently converted the property on Plot 282 Ajose Adeogun Street , Victoria Island , Lagos , by leasing it to the defunct Oceanic Bank Plc now Ecobank Plc .
    “ Sometime in 2017 in Lagos , Semasa and Kazeem fraudulently tricked and cheated the beneficiaries of the late king of N 150 m, which was part of the proceeds of the sale of a property located at Dideolu Estate , Victoria Island , Lagos . ”
    Semasa, according to the prosecution, had purported that the receipt of payment and deed of assignment were signed by Bolarinwa James , Mrs Alakija ( nee James ) and Justice Adebayo Adeniji , with the intent that it would be acted upon as genuine to the prejudice of other persons .
    Following their plea, Justice Oluwatoyin Taiwo ordered that Semasa should continue his previous administrative bail.
    She , however , ordered that Kazeem should be released to his counsel, Mr Martin Oyigbo , after signing an undertaking that he would ensure that the defendant would be attending court proceedings .
    Justice Taiwo adjourned the case until November 19 for trial .

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