Kanu Loses N1.4 Billion In Hotel Business; Manager Arrested For Fraud

kanu loses billions in hotel business

March 7, 2013 – Kanu Loses N1.4 Billion In Hotel Business; His Managing Director, MD Arrested For Fraud

……Kanu Loses Billions Of Naira In Hotel Business; Hardley Suites’ Manager Arrested For Fraud

Former Nigerian footballer Nwankwo Kanu has lost N1.4 billion in his hotel business and the Managing Director of the hotel, Mr. Ayoola Gam Ikon, 49, has been arrested and charged to court for the alleged fraud.

Operatives of the Inspector General of Police Monitoring Unit arrested Ikon, the managing director of Hardley Suites Limited situated at Waziri Ibrahim Crescent, off Elsie Femi Pearse Street, Victoria Island, Lagos southwest Nigeria, for allegedly stealing the N1.4 billion belonging to the hotel and suites owned by Kanu.

Also arrested along with him over the alleged fraud is a hotel staff, Oke Samuel.

They were arraigned before an Igbosere Magistrate’s court on a 19-count charge of felony to wit, obtaining money under false pretence.

The police alleged in charge suit No. K/8/2013 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 offences, the accused allegedly committed, according to the prosecutor A.M. Animashaun, 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 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.

But the Chief Magistrate, Mrs. O.O. Oshin overruled him with legal facts after quoting 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.

She admitted the first defendant to 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.

She adjourned the matter till 4 April, 2013 for mention.

The defendants were, however, moved to Ikoyi Prison, Lagos pending when they would fulfil the bail conditions.

[Paul Iyoghojie PMnews]

5 thoughts on “Kanu Loses N1.4 Billion In Hotel Business; Manager Arrested For Fraud

  1. This country is as bad as devil, imaging someone like Kanu who has done so much for this country has been defrauded, what a wicked country we have. The money Kanu has is not political, but his hard earned money which he used in employing people so that they can be able to set food on their tables and take care of their responsibilities. And one idiot decided to take advantage of the whole thing. Unfortunate for Kanu, Nigeria is a country that legalises corruption, so if God does not interven, he might not get anything out of it. May they good Lord help him to retrieve every kobo in Jesus name.

  2. He is a good man, the only nigeria footballer who help poor poeple. i pray that because of that good thing that u have do for the poor, for that reason GOD will help u and ur money will be recover back. amen. God bless u.

  3. Hmmnn,
    what have I gotten to say?
    PAPILO, jest hollup and see what happens @ the end of the day.
    I want you to remember, THIS IS NIGERIA, YOUR COUNTRY.
    YOU SHOULD START TO EXPECT THE UNEXPECTED.

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