By RhemDy News
The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), on Thursday, July 2, 2026, arraigned two brothers, Cypril Nwalaezi and Smart Chinedu Nwalaezi, before Justice S. D. Pam of the Federal High Court sitting in Port Harcourt, Rivers State capital for alleged property fraud.
The duo was arraigned on amended five-count charge bordering on conspiracy and obtaining money under false pretence to the tune of N3.2million.
In counts two, Cypril Nwalaezi was alleged to have on or about the October 17, 2022, induced one Mr. Franklin Nwachukwu to purchase a parcel of land situated at Umuasukpo Farm Road, measuring 1150.805 and 1295.771 square meters in Igbo-Etche in Etche Local Government Area of Rivers State.
The EFCC alleged that the intent was to defraud the victim by false pretence that he had valid and subsisting title to the land and obtained the sum of N2,750,000.00)l from Mr. Nwachukwu.
The anti-graft agency in the count said the defendant thereby committed an offence contrary to Section 1(1)(b)&(c) of the Advance Fee Fraud and Other Fraud Related Offenses Act, 2006 and punishable under Section 1(3) of the same Act.
Another counts charge reads: "That you, Smart Chinedu Nwalaezi on or about the 3rd day of November, 2022 at Port Harcourt, within the jurisdiction of this Honourable Court, with intent to defraud and by false pretence that you had valid and subsisting title to a parcel of land, situated at Umuasukpo Farm Road, lgbo-Etche in Etche Local Government Area of Rivers State, measuring an area of 467.912 square meters, induced Mr. Franklin Nwachukwu to purchase the same and obtained the sum of Four Hundred and Fifty Thousand Naira (N450,000.00) from Mr. Franklin Nwachukwu and thereby committed an offence contrary to Section 1(1)(b) & (c )of the Advance Fee Fraud and Other Fraud Related Offenses Act, 2006 and punishable under Section 1(3) of the same Act."
The defendants both pleaded "not guilty," following which the prosecution counsel, C. Okorie, asked the court for a trial date and to remand them in the custody of the Nigeria Correctional Service, Port Harcourt, Rivers State.
However, counsel to the first defendant, R. O. Agbabo informed the court of her subsisting bail application for her client and prayed the court to grant him bail to enable him prepare for his trial.
Similarly, counsel to the second defendant, M. M. Nweke, informed the court of his bail application for his client and pleaded with the court to grant him bail on liberal terms to enable him to prepare for his trial.
After listening to their bail applications, Justice Pam granted bail to Cypril Nwalaezi, the first defendant in the sum of N500,000 and a surety in like sum.
The court ruled that the surety must have a landed property and must reside in Port Harcourt.
Similarly, the court granted bail to the second defendant, Smart Chinedu Nwalaezi in the sum of N50,000.00 with a surety in like sum.
The court also ordered the defendants to be remanded in Port Harcourt Correctional Centre pending the fulfilment of their bail conditions.
He subsequently adjourned the matter to September 17, 2026 for commencement of trial.
The victim, Mr Nwachukwu had in June, 2024, petitioned the Commission, alleging a case of fraud following the discovery in December, 2023 that the same properties he bought have been resold by the defendants to other buyers.
EFCC's investigation revealed that the defendants conspired and resold both properties for N3.2million to other buyers.
No comments:
Post a Comment