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.