A Mortgage banker, Sulaiman Olayiwola Gbajabiamila, has been sentenced to 24 years for swindling his client of N31 million in a property deal and forging a Sterling Bank manager’s cheque to carry out the dastardly act in Lagos State.
This followed the judgment of the Lagos State High Court in Ikeja, which found Gbajabiamila guilty and sentenced him accordingly.
The presiding judge, Justice I. O. Ijelu, delivered the judgment on Monday, 25th August, 2025, following Gbajabiamila’s trial on a seven-count charge of stealing, obtaining by false pretences, forgery, use of false documents, and retention of proceeds of crime.
The charges were filed by the Economic and Financial Crimes Commission (EFCC) in September 2023 after he was arrested for the fraudulent conduct against the complainant, Lateef Adeyemo.
According to the EFCC, the case began when Gbajabiamila introduced through an estate agent, collected N31m from the petitioner, Lateef Adeyemo, for a two-bedroom apartment in Iponri, Lagos.
The property was never delivered, and investigations revealed the funds were diverted for personal use by the convict.
Some of the charges alleged that Gbajabiamila, in 2021, dishonestly converted Adeyemo’s N31 million to his own use. While another was forging a Sterling Bank manager’s cheque worth N10 million in favour of STB Building Society Limited.
During the trial, Gbajabiamila pleaded not guilty.
Prosecution counsel, Abdulhamid L. Tukur, presented two witnesses and tendered documents admitted as evidence, while defence counsel T. E. Gbado urged the court to show leniency, describing the defendant as a first-time offender who was remorseful.
In sentencing, Justice Ijelu handed Gbajabiamila five years’ imprisonment on the count of stealing, with an option of a N1 million fine; seven years for obtaining by false pretences; two years each for three counts of forgery, with an option of N1 million fine on each; two years for using false documents, with an option of a N200,000 fine; and four years for retention of proceeds of crime, with an option of a N500,000 fine.
The convict will be custody pending when he will be able to perfect the options given to him by the Court to regain his freedom.
