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Court orders seizure of hotel allegedly built with N53.7m fraud money

The Federal High Court in Lagos has ordered the temporary forfeiture of Victoria East Park Hotel and Suites located along Igbogbo-Mayegun Road, Ikorodu, Lagos, over an alleged fraud of N53.7m.

Justice Chuka Obiozor ordered the Economic and Financial Crimes Commission to take over the hotel for 21 days to enable it to conclude its investigation of the alleged fraud.

The EFCC had, in an ex parte application on Tuesday, told the court that it believed that the hotel was acquired with proceeds of fraud by one Ebiesuwa Fredrick, who is believed to be the ring leader of alleged syndicate of fraudsters based in Ibadan and with accomplices in Lagos.

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