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EFCC arraigns developer over messy property deals

The Economic and Financial Crimes Commission, EFCC at the weekend arraigned one Joseph Idakho alongside his company, Zamtrac Management, and City Investment Limited, before Justice D. Z. Senchi of the Federal Capital Territory, FCT, High Court, Jabi, Abuja, for alleged conspiracy, forgery and criminal breach of trust.

He allegedly defrauded one Hajiya Halima Babangida in a real estate development transaction that went awry.

Babangida alleged in a petition to the EFCC that she entered into an agreement with the defendant’s company for development of six units of detached houses of five bedrooms each, including boys quarters, at Plot, 2398 AO6, Cadastral Zone, Maitama District, Abuja, with her contribution being the land, while the defendant was to bear other costs of development.

She claims that they had agreed to share the property equally at the end of development but discovered, to her chagrin, that the defendant commenced sale of the property even before completion without her knowledge or approval.

Credit: PM News

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