Justice W.I. Aziegbemhin of the Edo State High Court in Benin City has sentenced a businesswoman, Ifeoma Joy Bogamhe, to nine months’ imprisonment for property fraud.
The convict, who operates Zemehse Global Enterprise, was arraigned by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) in June 2025 on a two-count charge of fraudulent disposition of mortgaged property.
During the trial, the prosecution, led by counsel Salihu Ahmed, presented three witnesses and nine pieces of documentary evidence to prove the case. The court previously convicted the defendant on February 27, 2026, before reserving the sentencing until Friday, March 6, 2026.
According to court records, Bogamhe’s troubles began when she used a single property as collateral to secure a N20 million loan from the Standard Life Organization. She subsequently used the same property as collateral to secure a N10 million loan from Wema Bank without disclosing the existence of the prior mortgage to the bank or obtaining consent from the initial mortgagee.
The fraud was uncovered when the Standard Life Organization attempted to seize the property following a loan default, only to discover that Wema Bank held a competing claim on the same asset.
In his ruling on Friday, Justice Aziegbemhin sentenced the defendant to nine months in prison. Additionally, the judge ordered Bogamhe to make full restitution to the complainant for the funds unlawfully obtained. While the court convicted the defendant on the first count of the charge, it discharged her on the second count regarding the N10 million loan obtained from Wema Bank.
