The Force Criminal Investigations Department (FCID) of the Nigerian Police has arrested Olasijibomi Ogundele, founder and Group Managing Director of Sujimoto Holdings, over an alleged fraud involving $325,000 in a real estate transaction.
The arrest follows a probe initiated after Ogundele reportedly received the funds from a client in November 2020 without delivering the promised property or refunding the money.
The investigation stems from a petition filed by Pelumi Olajengbesi, managing partner at Law Corridor, on behalf of client Kabiru Garba Ibrahim.
According to the petition, Ogundele accepted the payment as 50% of the agreed $650,000 purchase price for a 3-bedroom flat in LeonardoBySujimoto Homes, a luxury estate developed by his firm Sujimoto Construction Limited.
Olajengbesi claims Ogundele’s actions constitute obtaining money by false pretence, fraudulent misrepresentation, and criminal breach of trust, as Ibrahim has neither received the property nor been refunded since 2020.
Police sources disclosed that Ogundele was invited to FCID Abuja in May 2024 but did not honor the invitation. Instead, Ogundele and LeonardoBySujimoto Homes filed a fundamental rights lawsuit against the police, seeking to halt the investigation.
Following his failure to respond, an Assistant Commissioner of Police traveled to Lagos to facilitate his reporting to FCID Abuja on Wednesday.
“When we started the investigation and invited the suspect, the next thing we saw was that he had sued the police, requesting that we stop our constitutional duties,” a senior police source stated, adding that Ogundele’s legal counsel may have advised him poorly.
FCID spokesperson Funmi Eguaoje, confirmed that Ogundele was detained on Wednesday after he could not meet the initial bail conditions.
However, he was released on bail on Thursday night following an interview with police officials.
In a separate development, Ogundele recently announced plans for his firm’s $225 million LeonardoBySujimoto project in Ikoyi, Lagos.
The ambitious project aims to surpass the 45-year-old NECOM House as the tallest building in West Africa, featuring 165 meters of architectural innovation with amenities such as 48 electric vehicle charging stations, a virtual golf bar, IMAX cinema, and eight private swimming pools.
