Sujimoto In Trouble Over N355m Alleged Scam
Renowned real estate developer, Sujimoto Holdings, has reportedly been in trouble following allegations of investment fraud amounting to a staggering N355 million.
The accusations stem from a petition filed by a legal firm, Henry & Henshaw LP, on behalf of an aggrieved investor, who claims to have been defrauded by Sujimoto Construction Limited and its Managing Director, Mr. Olajisijibomi Ogundele.
The petition, addressed to the Inspector General of Police, details how the investor was lured into investing N300 million into Sujimoto’s ‘Diamond Investment Package’ in May 2023, with a promised return of N405 million after one year.
However, upon the maturity date on 5th May 2024, the company allegedly failed to honour its commitment.
According to the petition, Sujimoto issued a post-dated cheque of N405 million to the investor, but when it was presented for clearance at Access Bank’s University College Hospital (UCH) branch in Ibadan, the cheque bounced, revealing that the company’s Providus Bank account was not operational for such transactions.
This has since raised suspicions that the company may have used fraudulent tactics to obtain investors’ funds.
The petition further alleges that attempts by the investor to reach out to Sujimoto for resolution proved abortive, as the developer reportedly became evasive.
Following sustained pressure and threats of legal action, Sujimoto is said to have only managed to pay N50 million, leaving a balance of N355 million unaccounted for.
Legal experts have pointed out that Sujimoto’s actions may constitute a violation of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, as well as the Dishonoured Cheques (Offences) Act 2007, which criminalises the issuance of dud cheques.
Meanwhile, fresh developments indicate that Sujimoto has begun making payments, as revealed in a leaked WhatsApp chat between an individual and his associate.
The message confirmed that Sujimoto recently made a payment for the month of January, hinting at efforts to address the debt.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
