Ex-Nigeria star Nwankwo Kanu has lost
N1.4bn (about $104m) and a top
executive of his hotel has been arrested
and charged to court.
Managing director of Hardley Suites
Hotel in Lagos, Ayoola Gam Ikon, 49,
has been arrested and charged to court
for the alleged fraud, according to a PM
News report.
Operatives of the Inspector General of
Police Monitoring Unit arrested Ikon, the
managing director of Hardley Suites
Limited situated at Waziri Ibrahim
Crescent, off Elsie Femi Pearse Street,
Victoria Island, Lagos, for allegedly
stealing the N1.4bn belonging to the
hotel owned by Kanu.
Also arrested along with him over the
alleged fraud is a hotel staff, Oke
Samuel.
They were arraigned before an Igbosere
Magistrate's court on a 19-count charge
of felony to wit, obtaining money under
false pretence.
The police alleged in charge suit No.
K/8/2013 that Ikon was arrested
following a complaint by the
management of Hardley Suites Limited,
Nwankwo Kanu and Ogbonna Kanu, that
Ikon between 2005 and 2012 allegedly
defrauded them of the sum of about
N1.4bn on the pretence of using the
money to expand the existing facilities
of the hotel by constructing and
furnishing of additional blocks of 30
suites and conference facilities.
But he allegedly failed to use the
money for the purpose and allegedly
converted the money to his personal
use.
He was also alleged to have forged a
special resolution purportedly made by
the board of directors of Hardley Suites
Limited to obtain loans of N187m,
N50m and N493m from Skye Bank Plc
without authorisation.
The offences, the accused allegedly
committed, according to the prosecutor
A.M. Animashaun, contravenes sections
8 (a) 1 (a) of the advanced fee fraud
and other fraud related offences Act
2006 as applicable in Lagos State.
The accused pleaded not guilty to all
the charges.
The prosecutor presented before the
court an application for the remand of
the accused persons in prison custody
pending advice from the office of the
Directorate of Public Prosecution
because the lower court lacks the
jurisdiction to try the matter.
But the Chief Magistrate, O.O. Oshin
overruled him with legal facts after
quoting copiously from several sections
of the criminal justice administration
laws of Lagos State to buttress her
claim that the court has the jurisdiction
to hear and admit the accused to bail.
She admitted the first defendant to bail
in the sum of N1m with two sureties in
like sum.
One of the sureties must be the
defendant himself; the other should be
a civil servant on level 16.
She also admitted the second
defendant to bail in the sum of
N500,000, with two sureties in like
sum. One of the sureties must be a
level 16 civil servant while the other
must be working with a reputable
company.
She adjourned the matter till April 4 for
mention.

SOURCE: mobile.punchng.com/output.php?link=http://www.punchng.com/sports/kanu-loses-9m-in-hotel-business/

@Op dey vex o, $104m ke..? 1.4b is not even up to $15m. But Nigerian court go show the guy pepper.
1. You are not a politician
2. You stole from Kanu..!?
3. Kanu know people pass you.


Inshort bros, even if you give the judge all the 1.4b you are still in dirty soup.
My advice, find the 1.4b, give it to Kanu, he's kind, he would drop charges.

Why do bad things happen to good people?

How was he able to collect such huge loans from Skye Bank with fake board resolution and the board never got a wind of it ...Na so loan easy for Niaja?

Only if kanu my guy go just point hand, I go scatter the guy head for free. If na joke he better stop it and kindly bring out the money make thunder no fire am.