Justice Adebukola Banjoko of the High Court of the Federal Capital Territory sitting in Gudu, has ordered a popular Nollywood Actor James Ukechukwu Esomugha, popularly known as Jim Iyke to pay the sum of N15.7million to a Nigerian socialite, Hajiya Habiba Abubakar after she accused him of defrauding her.
The plaintiffs, Hajiya Habiba Abubakar, Khadijah Abubakar and Khaleed Abubakar had dragged the Nollywood screen bad boy to court for allegations of fraud.
He was specifically charged with criminal breach of trust, criminal force, assault, cheating and criminal misappropriation contrary to sections 312, 265, 322, 397 and 309 of the Penal Code.
The 1st plaintiff, Habiba Abubakar who is a financial investor had alleged that after solicitation by Jim Iyke, she had invested monies to the tune of N16.5million in Untamed Records Limited, a company in-cooperated by Jim Iyke to promote his artistic works. She also alleged that Jim Iyke.
used fraudulent tactics and acquired 15 per cent equity shares of a music company, Untamed Records Ltd. Abubakar who stated in the originating summons that she made the investment on behalf of her children both listed as 2&3 plaintiffs in order to secure their educational future said that she made various financial payments and transfer to Untamed Records Ltd.
She prayed the court to declare that the 1&2 defendants are indebted to all the plaintiffs in the sum of N15.7million. Abubakar had also prayed the court to hold that failure if them to pay the agreed monthly instalment payments into the accounts of the plaintiffs negates the Debts Repayment Agreement and thereby terminated it.
The summary of the exhibit tendered in evidence by the plaintiffs were bank statements of about 7 banks. Meanwhile, Justice Banjoko who entered judgment in favour of the plaintiffs ordered Jim Iyke to pay the sum of N15.7million calculated at the interest rate of 5% from October 1,2012, to the day of the judgement of the court.
The judge also made an order for interest on the total amount outstanding, N15.7million calculated at the interest rate of 10% from the day of the judgement until final liquidation of the amount. She also awarded cost for the action of the suit in the sum of N500,000 against the defendants.
