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Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, on Monday, April 28, sentenced Olaniyan Gbenga Amos to 63 years in prison for multiple counts of investment fraud.
Amos was convicted alongside his company, Detorrid Heritage Investment Limited, on a 30-count charge brought by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC). The charges were primarily based on obtaining money under false pretences, contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
One of the counts reads:
“That you, Olaniyan Gbenga Amos, and Detorrid Heritage Investment Limited, on or about June 18, 2020, at Ibadan within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of N995,000.00 (Nine Hundred and Ninety-Five Thousand Naira) from Bada Titilope, falsely representing that the money was meant for registration and investment with Crime Alert Security Network, with a promised return of 30% in six weeks (30 working days), a representation you knew to be false.”
Another charge stated that Amos obtained N920,000 from Onifade Isaac Olawale under similar false pretences.
Although Amos pleaded not guilty, the EFCC opened its case on February 17, 2022. The prosecution, led by counsel Sanusi Galadanchi, called eight witnesses and tendered exhibits marked “A to H,” concluding the case on January 24, 2023. Amos’s “no-case submission” was subsequently overruled, and he was directed to present his defence.
On October 17, 2024, Amos testified as the sole witness for himself and his firm. Following the adoption of final written addresses, the court reserved its judgment until April 28.
Justice Adetujoye found Amos guilty on counts 6, 16, 17, 18, 19, 21, 22, 23, and 24, sentencing him to seven years’ imprisonment for each count. He was discharged on the remaining counts. The sentences are to run concurrently, and the court also ordered restitution to the victims of the fraud.
This conviction adds to Amos’s legal woes. On December 14, 2023, Justice Bayo Taiwo of the same court had sentenced him to 75 years’ imprisonment for similar offences. Additionally, he is currently facing two other trials at the Federal High Court in Ibadan.
Amos, through his fraudulent scheme disguised as “Crime Alert Security Network,” reportedly defrauded investors of over N1 billion. His arrest and arraignment in this case began on December 14, 2021.
