Ex-Super Eagles captain Nwankwo Kanu has lost N1.4 billion (about $104m) and a top executive of his hotel has been arrested and charged to court.
49-year-old Ayoola Gam Ikon, Managing director of Hardley Suites Hotel in Lagos was arrested and charged to court after the alleged fraud came to light.
Ikon was arrested by operatives of the Inspector General of Police Monitoring Unit at Waziri Ibrahim Crescent, off Elsie Femi Pearse Street, Victoria Island, Lagos, for allegedly stealing the N1.4 billion belonging to the hotel owned by the ex-international.
Also arrested along with Ikon was a hotel staff, Oke Samuel whose complicity in the fraud was suspected.
They were arraigned before an Igbosere Magistrate’s court on a 19-count charge of felony to wit, obtaining money under false pretence.
In charge suit No. K/8/2013, Police alleged that Ikon was arrested following a complaint by the management of Hardley Suites Limited, Nwankwo Kanu and Ogbonna Kanu, that Ikon between 2005 and 2012 allegedly defrauded them of the sum of about N1.4 billion on the pretence of using the money to expand the existing facilities of the hotel by constructing and furnishing of additional blocks of 30 suites and conference facilities.
But he allegedly failed to use the money for the purpose and allegedly converted the money to his personal use.
He was also alleged to have forged a special resolution purportedly made by the board of directors of Hardley Suites Limited to obtain loans of N187 million, N50 million and N493 million from Skye Bank Plc without authorization.
The prosecutor A.M. Animashaun said the offences the accused allegedly committed contravenes sections 8 (a) 1 (a) of the advanced fee fraud and other fraud related offences Act 2006 as applicable in Lagos State.
The accused however pleaded not guilty to all the charges.
The prosecutor presented before the court an application for the remand of the accused persons in prison custody pending advice from the office of the directorate of public prosecution, DPP, because the lower court lacks the jurisdiction to try the matter.
He was however overruled by the Chief Magistrate, O.O. Oshin who quoted legal facts copiously from several sections of the criminal justice administration laws of Lagos State to buttress her claim that the court has the jurisdiction to hear and admit the accused to bail.
While she adjourned the matter till April 4 for mention, the first defendant was granted bail in the sum of N1 million with two sureties in like sum.
One of the sureties must be the defendant himself; the other should be a civil servant on level 16.
She also admitted the second defendant to bail in the sum of N500,000, with two sureties in like sum. One of the sureties must be a level 16 civil servant while the other must be working with a reputable company.
However, the defendants were moved to Ikoyi Prison, Lagos pending when they would fulfill the bail conditions.