The Federal High Court orders freeze on over 30 bank accounts linked to Dave Kubak and associates in a N310 million fraud investigation involving a property sale in Ikoyi, Lagos
The Federal High Court in Abuja has ordered 13 banks and one fintech platform to freeze over 30 bank accounts tied to Dave Kubak Construction, Yele Kufeji, and others amid an ongoing fraud probe.
Also read: Court freezes accounts of businesswoman Okonjo Udokanma over $97,982 debt to Providus Bank
This move is part of a N310 million fraud investigation linked to the alleged sale of House No. 4, Plot 2A, Reeve Road, Ikoyi, Lagos.
Justice Emeka Nwite granted the order on Wednesday after the Inspector General of Police’s legal team filed an ex parte motion.
The freeze applies a “post-no-debit” restriction, allowing only funds to flow into the accounts, preventing withdrawals during the investigation.
The affected accounts include those of Dave Kubak Construction, Dave Kubak Energy, and Akinyele Oluseyi Kufeji.
The court’s order follows allegations that the suspects fraudulently obtained the sum from Mr. Ayodeji Oyetunde Faji by misrepresenting the property’s availability.
The Inspector General’s lawyer, Wisdom Madaki Esq., highlighted that Yele Kufeji is the managing director and alter ego of Dave Kubak Construction, while another suspect, Chisom Olisaemeka, falsely presented himself as the property owner.
It was further revealed the property had already been sold to a different buyer prior to this transaction.
Justice Nwite approved the freeze for 60 days, a shorter period than the 90 days requested, emphasizing the importance of the order for the ongoing police investigation.
Also read: Nigerian court freezes accounts over ₦5.7bn Keystone Bank glitch, unauthorized withdrawals
The case has been adjourned until September 29 for further proceedings.
Source: Read more at thecable.ng
