Lawyer Asagwaram, Remanded Over Alleged N84m Property Fraud in Abia

An Aba-based lawyer, Mr. Peter Asagwaram, has been remanded in custody by a Magistrate Court sitting in Umuahia, Abia State, over an alleged N84 million fraud linked to a property transaction.

Mr. Asagwaram was arraigned before Magistrate Court 2 on charges bordering on obtaining money under false pretence and related offences.

The complainant, an Aba-based businessman, Mr. Chibuike Akusiobi, told the court that he handed over the sum of N84 million to the lawyer to facilitate the purchase of a property located along the Enugu–Port Harcourt Expressway, near Ariaria International Market in Aba.

According to the businessman, he requested a receipt or acknowledgement after making the payment but was instead issued a document presented as a Power of Attorney for the property.

However, he alleged that the document was later discovered to be forged.

Akusiobi further claimed that investigations revealed that only N15 million out of the N84 million was allegedly paid to the land owner. The land owner was said to have subsequently refunded the amount after the lawyer failed to complete payment of the balance required to secure the property.

The complainant stated that all efforts made to recover the money proved unsuccessful, alleging that the lawyer later fled his base in Aba.

It was gathered that operatives of the Nigeria Police Force from Zone 9 Headquarters in Umuahia tracked and arrested the suspect last week along Omuma Road in Aba.

When approached by journalists for comments on the allegations, the defendant declined to speak, saying, “No comment.”

Mr. Asagwaram, however, pleaded not guilty to the charges when they were read to him in court.

Following his plea, the presiding magistrate ordered that he be remanded in custody and adjourned the case to April 8, 2026, for further hearing.