Society Gists

The CEO of Sujimoto Holdings, Olasijibomi Ogundele, has once again found himself at the center of a financial scandal.

This time, he has been accused of swindling a 75-year-old retired professor of medicine out of his life savings of ₦300 million, promising him a 35% return on investment (ROI) annually in a luxury real estate project.

According to SocietyGists, the elderly victim, desperate to secure a legacy for his family, was introduced to Sujimoto Holdings through one of its sales representatives. He was shown enticing prototypes of a supposed high-yield investment and, trusting the firm’s reputation, committed ₦300 million to the project in 2023.

But the dream turned into a nightmare when the investment matured in May 2024. Instead of receiving his ₦105 million ROI, the old man was met with silence. After mounting pressure, Ogundele grudgingly paid him only ₦50 million, a fraction of what was owed.

To make matters worse, when the distressed investor sought answers, Sujimoto blocked his number and instructed security to deny him access to their offices. The heartbreak and financial loss reportedly worsened his pre-existing heart condition, leaving him in critical need of medical care.

This is not the first time Olasijibomi Ogundele has been accused of fraudulent dealings.

In 2024, the Force Criminal Investigation Department (FCID) launched an investigation into how Sujimoto Construction Limited allegedly took $325,000 (approximately ₦500 million) from a client, Kabiru Garba Ibrahim, in November 2020 for a real estate project that was never delivered.

The case, brought by lawyer Pelumi Olajengbesi of Law Corridor, accused Ogundele of “obtaining money under false pretenses, fraudulent misrepresentation, and criminal breach of trust.”

Sujimoto, however, blamed the economic downturn and currency depreciation for its failure to fulfill the contract.

Despite branding himself as a “luxury real estate mogul,” Olasijibomi Ogundele’s name continues to surface in multiple fraud allegations, leaving a trail of devastated investors and unfulfilled promises.

Many now question whether Sujimoto Holdings is a legitimate business or a well-orchestrated Ponzi scheme preying on unsuspecting individuals.

With multiple accusations piling up, will law enforcement finally take decisive action against Ogundele, or will he continue to operate unchecked in Nigeria’s real estate sector?

Stay tuned as the real estate deception unravels.