A Federal High Court sitting in Lafia, Nasarawa State, has ordered the final forfeiture of multiple properties and cash to the Federal Government following an application by the Economic and Financial Crimes Commission (EFCC).
Delivering judgement, Justice M.O. Olajuwon held that the anti-graft agency provided sufficient evidence to establish that the assets were proceeds of unlawful activities allegedly linked to one Theophilus Oloche Ebonyi.
The forfeited assets include a 23-room hotel and event centre, De Thinkers Home and Apartments, located in Nyanya Gwandara; a warehouse and sachet water factory in Koroduma, Karu Local Government Area; two office buildings along Philip Doda Street in the same area; and Theo International Academy Primary School, also in Nyanya Gwandara.
Additionally, the court ordered the forfeiture of N1,005,489.27 found in a First Bank account linked to the respondent.
Justice Olajuwon ruled that the EFCC met the legal threshold under Section 17(1) of the Advance Fee Fraud and Other Fraud Related Offences Act.
“The Commission has placed sufficient materials before the court to prove that the assets are proceeds of unlawful activity,” the judge stated.
He further noted that once the EFCC established reasonable suspicion, the burden shifted to the respondents to justify the legitimacy of the assets.
“The respondents failed to discharge the burden placed on them to show cause why the properties should not be permanently forfeited,” he added.
Earlier, the EFCC, through an affidavit deposed by its investigator, Mary Ebute, told the court that a Keystone Bank account belonging to Theobarth Global Foundation served as the primary channel through which funds were collected from victims.
The Commission alleged that the account was used to operate a Ponzi scheme and launder proceeds through the acquisition of the forfeited assets.
EFCC counsel, Ibrahim Buba, argued that the properties were directly traceable to fraudulent activities, urging the court to grant final forfeiture in favour of the Federal Government.
The court subsequently granted the application, transferring ownership of the assets to the government.
