Jim Iyke to pay off N16.5m debt in 4 years or face jail time.

Jim Iyke was taken to court some months ago fro collecting N16.5m from a Mrs Abubakar and not paying back. After several appearances in court, they decided to settle out of court.

Immediately, the news filtered to twon that the case was 'thrown out of court' but in order to set the record straight, the agrieved party has issued a statement with documents to back them up.
STATEMENT

Our notice has been drawn to an article published on your blog and other media and we have been mandated to put the facts straight.

We would like to say categorically that the accused (Mr. Jim Iyke) confessed to all the charges that were brought against him which said charges includes criminal breach of trust, assault, criminal force, cheating, criminal misappropriation and obtaining by tricks etc.

Pursuant to his confession and guilty plea, the accused ( Mr. Jim Iyke) would have been sent to jail but for the magnanimity of the victim, Mrs Abubakar who, after listening to all the pleading from Jim's family that he was their bread winner, decided to temper justice with mercy. As it was not the interest of the victim to ruin his career nor cause his family unnecessary pain, the moral decision was taking to withdraw the case on the condition that he will refund all the money he fraudulently obtained.

At the instance of our client, the case was only discharged for amicable settlement (and not thrown out) and the accused was not in any way acquitted. We expect that Mr. Jim Iyke will concentrate on finding ways of fulfilling the debt repayment agreement signed by him rather than the unnecessary show of braggadocio and deliberate misinformation, as the agreement clearly states that should he default on two consecutive installment payments, the case will be re-opened, all waivers suspended, and the law will take its cause.

He remains liable and must desist from bringing the court, the law enforcement officers and all parties involved to disrepute or the full wrath of the law will be brought upon him.

Please find attached evidence and documentation in respect of the above.

Thank you for setting the records straight.

Zuby Njoku