Femi Ashekun/
A Nigerian businessman, Akintayo Ebenezer Ogunleye, is facing deepening legal troubles as a Federal High Court in Lagos ordered the interim forfeiture of several properties and vehicles linked to him and his companies over an alleged N452 million investment fraud.
Justice Yellim Bogoro granted the forfeiture order following an ex parte application filed by the Police Special Fraud Unit (PSFU), Ikoyi, which accused Ogunleye and his firms, Bethsaida Investment Partners Limited and Hartfield Investment Limited, of acquiring assets with proceeds of unlawful activities.
The assets affected include multiple landed properties in Abuja and Oyo State, as well as two vehicles, a Toyota Corolla and a Lexus saloon car. The court also directed the PSFU to publish the forfeiture order in a national newspaper, inviting interested parties to show cause why the assets should not be permanently forfeited to the Federal Government.
Ogunleye is currently standing trial on 21 counts bordering on conspiracy and obtaining money by false pretence. Prosecutors allege that between 2020 and 2023, he induced investors to part with large sums of money under the promise of high-yield real estate and online foreign exchange investments.
Investigators say the alleged scheme targeted multiple individuals, with claimed losses ranging from hundreds of thousands of naira to tens of millions. The prosecution maintains that the funds were never invested as promised but were instead diverted for personal and corporate use.
Beyond Nigeria, Ogunleye’s business dealings have drawn scrutiny due to links with UK-registered companies bearing similar names, including Bethsaida Capital UK Limited and Bethsaida Homes UK Limited, both of which are now defunct, having been struck off or dissolved by the UK authorities. While there are no criminal convictions recorded against the UK entities, their dissolution has raised further questions about the scale and structure of the alleged investment operations.
Authorities say the pattern reflects a broader tactic often associated with fraudulent investment schemes, where multiple corporate vehicles, sometimes spanning jurisdictions, are used to attract and manage investors’ funds.
Ogunleye has denied all allegations and pleaded not guilty to the charges. He has since been granted bail, pending the conclusion of his trial.
The court has adjourned further proceedings, including the hearing on final forfeiture and continuation of the criminal trial, to 19 February 2026.
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