The Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of a businesswoman, Ifeoma Joy Bogamhe, for her involvement in a ₦20 million mortgage fraud.
Bogamhe was arraigned in June 2025 before Justice W.I. Aziegbemhin of the Edo State High Court sitting in Benin City on a two-count amended charge bordering on the fraudulent disposition of a mortgaged property.
According to the EFCC, the defendant unlawfully disposed of a property valued at ₦20 million that had been used as collateral for a mortgage facility, an act that contravenes relevant laws governing secured transactions and property rights.
During the trial, the prosecution presented evidence and witnesses to establish that the defendant acted in breach of the mortgage agreement by transferring or dealing with the property without proper authorization, thereby defrauding the complainant.
After reviewing the facts and arguments presented, Justice Aziegbemhin found Bogamhe guilty on the charges and convicted her accordingly.
The conviction underscores the EFCC’s continued efforts to clamp down on financial crimes, including mortgage and property-related fraud, in Edo State and across the country.