A Nigerian businessman based in United States of America, Mr Joseph Falude reportedly lost a whopping sum of N11m to land speculators after he attempted to invest in Nigeria.
The victim had sent the money through his brother, Samuel to buy a parcel of land for him so that he will develop it upon return and embark on other ventures in Nigeria.
However, the vision had temporary set back as he was defrauded and could not recover the money.
The police at Area M Command, Idimu arrested one Adesola Taiwo and charged him before a Lagos court for his alleged involvement in the whole land scam.
P.M.EXPRESS reports that the 57-year old Taiwo reportedly impersonated as a legal practitioner dealing on lands and properties. He was contacted for the purchase of the landed property by the victims in Lagos.
He reportedly obtained the money from the victims for the purchase of the land but did not buy any land for them. It was gathered that Taiwo and his group went ahead, prepared fake documents and sent to the victim in USA as the genuine documents for the land they bought for him.
However, it was gathered that when Joseph returned home with the land documents sent him to develop the land, he discovered that there was no such land to develop. The documents sent to him were all forged.
The matter was reported to the police and Taiwo was arrested and detained at the Idimu Command. During interrogation, the police discovered that Taiwo was not a legal practitioner as he claimed and the documents were fake.
P.M.EXPRESS gathered that after he obtained the money, he shared with his accomplices and it was difficult for the police to recover the money from Taiwo.
The suspect was charged before Ejigbo Magistrates court for fraud and impersonation.
He pleaded not guilty.
The presiding Magistrate, Mr Akeem Fashola granted him bail in the sum of N500,000 with two sureties in like sum.
Taiwo was remanded in prison custody pending when he will perfect his bail condition. The matter was adjourned till 13 November, 2017.