BREAKING: Popular Socialite Abu Abel Arrested Over Alleged N477 Million Fraud
The Genius Media Nigeria reports that Police operatives at the Force Criminal Investigation Department (FCID), Alagbon, have arrested a popular socialite over his alleged involvement in a N447 million land fraud.
The suspect, Olaseni Johnson Olayinka alias Abu Abel, was arrested during an operation led by CSP Taiwo Oyewole at a residence in Victoria Island where he was allegedly hiding.
It was gathered that the Assistant Inspector General (AIG) in charge of FCID, Mrs Margaret Ochalla ordered Olayinka’s arrest following a petition by Doyin Investment Group of Companies.
The petitioner had alleged that the suspect fraudulently sold them three plots of land situated at Augustina Orji Street, within Ojomu Chieftaincy Family land, Oke-Arin Village, Mayegun, in Eti-Osa Local Government Area of Lagos.
He was alleged to have represented himself as the owner of the three plots (1, 4 and 10) measuring about 1,800.311 square metres in 2023.
Abu Abel allegedly convinced the company to pay N447 million for the property and a Deed of Assignment was duly executed between the parties.
However, following the transaction, the company discovered that the land was already encumbered and subject to a third-party claim.
When confronted, the suspect admitted he was aware of the issue and promised to refund the payment. He was said to have refunded N230 million in bits but defaulted on the balance of N217 million.
He was said to have become evasive and subsequently started threatening officials of the company.
According to the petitioner, Abu Abel on January 11, 2024, signed a written undertaking to repay the balance and used his property at Block C, Plot 22, Oba Amusa Adebambo Avenue, Lekki, as a collateral but failed to offset the debt.
Rather than submit himself to the agreement, the suspect was alleged to have filed a fundamental human rights enforcement suit, an action the police described as ploy to obstruct justice.
He was subsequently arrested after weeks of intelligence gathering on his whereabouts.
A source familiar with the case said the suspect was also being investigated for alleged links to a secret cult group reportedly involved in high-profile fraud, land grabbing, and criminal intimidation across Lagos and Ogun states.
“His arrest was ordered by AIG Margaret Ochalla, and executed by CSP Taiwo James and her tactical team. The operation was intelligence-driven and concluded successfully in Abuja,” the source disclosed.
Recovered from the suspect were key documents, including payment receipts, the Deed of Assignment, written undertakings, and correspondence with the complainant.
He is expected to be arraigned soon on multiple charges, including obtaining money under false pretence, criminal breach of trust, and conspiracy to defraud contrary to the Advance Fee Fraud and Other Related Offences Act, 2006, and the Criminal Code Act.
Meanwhile, Doyin Investment Group has appealed to the Inspector-General of Police, IGP Kayode Egbetokun, to ensure the suspect is prosecuted and the company’s outstanding N217 million recovered.
“This was a calculated fraud. We trusted the system, paid the money legally, and now the company is suffering losses. We commend the police for tracking him down, and we are confident that justice will be served,” a company representative stated
