My attention was recently drawn to a malicious and vicious publication of a trump up charge by the Special Fraud unit acting the script of a certain Barbara Komolafe who entered into a transaction with a certain Arc Adelaja and his company Quatro Associates and hoped to drag me into into it with intent to extort money personally from me for a transaction I know nothing absolutely nothing about.
I hereby wish to state the truth and reveal the falsehood in the entire charge which I have instructed my lawyers to obtain and challenge.
The Truth.
I have been the lead Counsel involved in the prosecution and enforcement of a Receivership involving some plots of land situate in Alma Beach and conveyed in Debenture Trust Deed Registered as 75/75/1949 of the land Registry, Lagos. The enforcement since 2016 had been fierce and very contentious. It had involved the Courts and Security agencies weighing in on various degrees to enforce the Receivership. In the midst of the disturbances, the Receiver had sought to realize the debt by leasing and selling the conveyed land to interested parties to pay off the creditor. I am not the Receiver . I am a Counsel engaged by the Creditor to enforce the Receivership.
One of the transactions of the Receiver is the subject of this charge. The Receiver went into a joint venture Agreement to take over and complete a 5 units terrace block in 2021 with terms to complete and share the units at 2 units to the developer and 2 to the Receiver. The remainder unit was to be sold and proceeds shared on 60:40 basis. The block was handed over to him. About some months later, the Arc Adelaja reported that some persons who were not respecting the Court of Appeal judgment affirming the Receivership were disturbing him. I advised him to go to court and get an injunction against the party which he did. Thereafter, he abandoned the project and all attempts to make him perform it were unfruitful. The Receiver by a letter dated 21st July, 2023 terminated the JV contract( copy attached).
After the termination, we were to come in contact with 3 persons who claimed they had paid various sums to Arc Adelaja and his company Quatro Associates as deposits for 3 units out of the 5 units! This was strange because neither the Receiver nor anyone had any business to collect money from any one concerning the uncompleted project.
In the meantime, the Receiver had sold the asset to another entity.
2 out of the 3 clients of Arc Adelaja went to SFU. I was invited as counsel who had been interfacing with Adelaja and the question was that the Receiver knew that Adelaja had collected money from persons . Why would he terminate and sell. I denied the insinuation. The Police insisted I give them a statement and I did and the discussion centered on was I prepared to pay the complainants and I said for what? How? I didn’t collect money from them. Adelaja didn’t pay their money to the Receiver and we don’t have anything to do with it.
When I would not crack, they chose the route of filing this Trump up charge, refused to serve any thing on me and have been calling me to come and settle. For them, I won’t want the embarrassment and I would pay the money Adelaja collected from the women
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