The Economic and Financial Crimes Commission (EFCC) has arraigned two brothers at the Federal High Court in Port Harcourt over allegations that they fraudulently sold the same parcels of land to multiple buyers.
The defendants, Cypril Nwalaezi and Smart Chinedu Nwalaezi, were arraigned on Thursday before Justice S. D. Pam on an amended five-count charge of conspiracy and obtaining money by false pretence involving N3.2 million.
In a statement posted on its official X handle, the EFCC said the brothers allegedly deceived a buyer, Franklin Nwachukwu, into believing they had valid titles to parcels of land located along Umuasukpo Farm Road in Igbo-Etche, Etche Local Government Area of Rivers State.
The anti-graft agency alleged that Cypril, on 17 October 2022, obtained N2.75 million from Mr Nwachukwu after claiming ownership of two parcels of land measuring 1,150.805 and 1,295.771 square metres.
The commission also alleged that Smart, on 3 November 2022, received N450,000 from the same buyer for another parcel measuring 467.912 square metres at the same location under the same representation.
The EFCC said the offences contravene provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The defendants pleaded not guilty to the charges.
Following their plea, prosecution counsel C. Okorie asked the court to fix a date for trial and remand the defendants in the custody of the Nigerian Correctional Service pending the hearing.
Counsel to the first defendant, R. O. Agbabo, and counsel to the second defendant, M. M. Nweke, asked the court to grant their clients bail to enable them to prepare for trial.
Justice Pam admitted Cypril to bail in the sum of N500,000 with one surety in like sum. The surety must own landed property and reside in Port Harcourt.
The judge granted Smart bail in the sum of N50,000 with one surety in like sum.
The court, however, ordered that both defendants be remanded at the Port Harcourt Correctional Centre pending the fulfilment of their bail conditions.
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The matter was adjourned until 17 September for the commencement of the trial.
According to the EFCC, the case stemmed from a petition filed by Mr Nwachukwu in June 2024 after he allegedly discovered that the properties he purchased in 2022 had been resold to other buyers.
The commission said investigations showed that the defendants conspired to resell the same properties after collecting money from the complainant, prompting criminal charges.
The arraignment follows enforcement actions by the EFCC against alleged real estate and property-related fraud across the country.
