Investment Fraudster Sentenced to 75 Years Imprisonment in Ibadan
- The Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC) has secured a conviction for Olaniyan Gbenga Amos for multiple investment frauds
- Amos was sentenced to 75 years imprisonment for defrauding people through fake investment ventures
- The EFCC arraigned Amos before the Oyo State High Court, sitting in Ibadan, on 35-count charges
Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy
Ibadan, Oyo state - The owner of Detorrid Heritage Investment Limited, Olaniyan Gbenga Amos, has been sentenced to 75 years’ imprisonment for multiple investment frauds.
Justice Bayo Taiwo of the Oyo State High Court, sitting in Ibadan, gave the judgement on Thursday, December 14, 2023.
Source: Twitter
Olaniyan alongside his company was prosecuted on 35-count charges by the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC)
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This was contained in a statement issued by EFCC via its X page (formerly known as Twitter), @officialEFCC
The charges border on obtaining by false pretences, which is “contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006”
The investment fraudster pleaded “not guilty” to the charges.
“He swindled several individuals through fake investment ventures that led to the loss of money to the tune of over N1 billion by investors.
“Amos deliberately reneged to meet up with the agreements he made with his investors, by not paying the agreed “Return on Investment” to those who invested in “Crime Alert Security Network”, a security investment programme under the umbrella of his firm.”
The EFCC Counsel, Sanusi Galadanchi, called six witnesses and tendered eight exhibits during the trial.
Delivering his judgement on Thursday, December 14, 2023, Justice Taiwo sentenced the defendant to 15 years’ imprisonment on 5 of the 15 counts charges against him.
The judge ordered that the sentence should run concurrently and the defendant should also restitute the victims.
Energy Commission Director remanded in prison over N3.8m contract fraud
Meanwhile, Legit.ng reported that the acting director of the Renewable Energy Department of the Energy Commission of Nigeria, Alhassan Musa, was remanded in prison for defrauding one Alhaji Musa Baba of N3.8 million in a failed contract award in Abuja.
EFCC operatives arrested Musa after the petitioner reported him for collecting N3.8m on January 21, 2019.
EFCC arraigns Kano couple over N410m fraud
A couple, Aisha Salihu Malkohi (a.k.a Ummitah, Arab Money) and her husband, Abubakar Abubakar Sadiq Mahmoud (at large) were arraigned before Justice Aisha Mahmud of the Kano State High Court sitting in Kano.
The EFCC arraigned the couple on five-count charges bordering on misappropriation of funds to the tune of N410,518,000
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Source: Legit.ng
