A Lagos State High Court in Ikeja has convicted and sentenced Obiajulu Emeka Emmanuel to one year imprisonment for obtaining $850,000 under false pretences.
Justice Ismail Ijelu delivered the judgment on Monday after finding Emmanuel guilty of fraud involving a failed property investment scheme.
The case was prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1 in Ikoyi.
According to the anti-graft agency, Emmanuel was first arraigned on November 10, 2025 on a 21-count charge bordering on obtaining by false pretence, forgery and retention of stolen property under the Advance Fee Fraud and Other Related Offences Act, 2006 and the Criminal Law of Lagos State.
One of the charges stated that Emmanuel dishonestly converted N12.33 million belonging to the petitioner, Taeko Omomo, for personal use between January and December 2018.
Another charge revealed that he also converted N8.69 million belonging to the same victim between January and December 2019.
During the trial, prosecution counsel C. C. Okezie tendered several documents which were admitted by the court as evidence.
The court was also informed that the EFCC had earlier secured a final forfeiture order before Justice Chukwujekwu Joseph Aneke of the Federal High Court in Ikoyi for three properties linked to Emmanuel.
The properties were forfeited in favour of the victim as part of efforts to recover the stolen funds.
During the proceedings, the EFCC amended the initial 21-count charge to seven counts. Emmanuel was re-arraigned on March 5, 2026 and changed his plea from not guilty to guilty.
Delivering judgment, Justice Ijelu held that the prosecution proved its case beyond reasonable doubt.
The court sentenced Emmanuel to one year imprisonment effective March 9, 2026. He was also ordered to pay a fine of N1 million within 30 days.
Justice Ijelu further upheld the forfeiture of the three properties to the victim in line with the earlier order of the Federal High Court.
The court also directed the convict to undertake to be of good behaviour before the EFCC.
Investigations showed that the fraud began in 2018 when Omomo entered into a business arrangement with Emmanuel to establish a company, First Unspeakable Grace Ltd, for land acquisition and property development.
Omomo transferred a total of $850,000 to Emmanuel for the project. However, he neither purchased the properties nor returned the money.
