The Force Criminal Investigation Department (ForceCID) Annex Alagbon-Ikoyi Lagos, has arraigned property developer Adeyinka Lawal for alleged money laundering and obtaining by false pretence of the sum of N1.33 billion.
Lawal is the Chief Executive Officer (CEO) of Beachway Homes Limited.
He was arraigned before a federal high court in Lagos, which Justice Deinde Dipeolu presided over.
His arraignment was alongside his company on an amended charges marked FHC/L/392c/2025.
The prosecutor, Barrister Samuel Ogala, told the court that the 60 years old defendant, his company Beachway Homes Limited and others at large, allegedly committed the crimes between 2020 and 2023, at at Elegushi, Lekki, Lagos State.
Specifically, the prosecutor informed the court that the defendant, Adeyinka Lawal, intent to defraud fraudulently obtained the sum of N1.33 billion from one Mr. Ifeanyi Nweke, under false pretense of using the said sum to build a 52-Unit Estate at ilesan-Elegushi, Lekki, Lagos.
The prosecutor also told the court that the defendant, upon receiving the said sum from his victim, converted same to his personal use.
He told the court that the alleged criminal acts of the defendant and his company, are contrary to sections 8 and 1(1)(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. And and punishable under section 390(9) of the Criminal Code Act, LFN 2004.
The prosecutor, also told the court the Adeyinka Lawal’s acts contravened section 7(2)(b) of the Advance Fee Fraud and Other fraud Related Offences Act, 2006. And Section 20(b) of the Money Laundering (Prevention and Prohibition) Act, 2022 No. 14.
The defendant, had denied the allegations and pleaded not guilty to the charges.
At the resumed trial of the defendant last Friday, the prosecutor told the court that the defendant was yet to fulfilled the bail terms granted by the court.
He therefore urged the court to remand him in the custody of the Nigerian Correctional Services (NCoS) pending the fulfillment of the bail terms.
However, his lawyer informed the court that he was indisposed since his client was arraigned and released to him to him last July, 2025, hence he would have perfected his bail.
Based on the counsel submissions, Justice Dipeolu ordered that the defendant be remanded in the facility of the Nigerian Correctional Services NCoS, pending the fulfillment of the bail terms.
Further hearing of the matter has been adjourned to March 18, for trial.
Charges against the defendants read: “That you ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD. and others now at large between the year 2020 and 2023 at Elegushi-Lekki area of Lagos State within the jurisdiction of this Honourable Court did conspire amongst yourselves to commit felony to wit: obtaining money by false pretense and thereby committed an offence contrary to and punishable under section 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. And section and punishable under section 390(9) of the Criminal Code Act, LFN 2004.
“That you ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD and others now at large between the year 2020 and 2023 at Elegushi-Lekki area of Lagos State within the jurisdiction of this Honourable Court did with intent to defraud fraudulently obtained the sum of N1.33Billion from MR. IFEANYI NWEKE under the pretense of using the said sum to build a 52-Unit Estate at ilesan-Elegushi, Lekki, Lagos, the representation you knew to be false and thereby committed an offence contrary to and punishable under section 1(1)(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
“That you ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD. and others now at large between the year 2020 and 2023 at Elegushi—Lekki area of Lagos State within the jurisdiction of this Honourable Court did fraudulently convert the total sum of N1,33Billion belonging to MR. IFEANYI NWEKE to your own use and thereby committed an offence contrary to and punishable under section 390(9) of the Criminal Code Act, LFN 2004.
“That you ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD. and others now at large between the year 2020 and 2023 at Elegushi, Lekki area of Lagos State within the jurisdiction of this Honourable Court did launder the sum of N1.33 billion belonging to MR. IFEANYI NWEKE and thereby committed an offence contrary to and punishable under section 7(2)(b) of the Advance Fee Fraud and Other fraud Related Offences Act, 2006.
“That you ADEYINKA LAWAL ‘M’, BEACHWAY HOMES LTD. and others now at large between the year 2020 and 2023 at Elegushi, Lekki area of Lagos State with n the Jurisdiction of this Honourable Court did transfer and retain the sum of N1.33 billion belonging to MR. IFEANYi NWEKE and thereby committed an offence contrary to and punishable under section 20(b) of the Money Laundering (Prevention and Prohibition) Act, 2022 No. 14.”
