The police command in Lagos State has arrested a 41-year-old woman over an alleged N450 million land fraud involving about 30 people.

The suspect allegedly obtained money from different people on the pretext that she would sell some plots of land to them, which she failed to do.

They reported the case to the Ebute-Ero Police Division on July 10, prompting an investigation that led to the suspect’s arrest.

Following the report, the Commissioner of Police in Lagos State, Fatai Tijani, directed that the case should be transferred to the State Criminal Investigation Department (SCID), Yaba, for comprehensive investigation.

A credible senior police source confirmed on Saturday that the suspect collected the money from the people that she would sell them the land in the South-East through her company.

“The suspect, who is the chief executive officer of the company collected various sums from the people over a period two years.

“Each of the victim paid N9.45 million for the proposed land transactions, but the promised allocations never materialised.

“The suspect subsequently abandoned her corporate office and relocated to an unknown location, which made it impossible to reach her,” he said.

The source disclosed that with the number of the people that reported to the SCID with similar complaints, the total amount allegedly obtained by the suspect was estimated at N450 million.

“Part of the money allegedly obtained by the suspect was used to build a massive hotel, although the location of the property is yet to be disclosed.

“The investigation is handled by the anti-fraud section, under the supervision of the Deputy Commissioner of Police in charge of SCID, Dayo Akinbisehin.

“The suspect is cooperating with detectives handling the investigation and she has made useful statements,” he said.

The source added that she would be arraigned in court after the conclusion of investigations.

He urged members of the public to exercise caution when investing in real estate.

“I advised prospective buyers to conduct proper due diligence by verifying land titles, company registration, and the credibility of developers before making payments,” he said.

(NAN)