Serial investment fraudster bags 63 Years
A serial investment fraudster Olaniyan Gbenga Amos has been sentenced to sixty-three years jail term by the Oyo State High Court sitting in Ibadan, capital of the state for multiple investment fraud.
Penpushing reports that Head, Media and Publicity of the Economic and Financial Crimes Commission (EFCC), Dele Oyewale in a statement said Amos was convicted alongside his firm, Detorrid Heritage Investment Limited.
The statement said they were prosecuted on 30-count charges by Ibadan Zonal Directorate of the commission, bordering on obtaining by false pretences, an offence contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
“That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 18th of June, 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) only from Bada Titilope, when you falsely represented to him that the money is meant for registration and investment with Crime Alert Security Network with a promise of 30% return on Investment in 6 weeks (30 working days), which representations you knew to be false and thereby committed an offence of Obtaining Money under false pretence contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006’, count 21 reads
“That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 29th of January, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N920, 000.00 (Nine Hundred and Twenty Thousand Naira) only from Onifade Isaac Olawale, when you falsely represented to him that the money is meant for registration and investment with Crime Alert Security Network with a promise of 30% return on Investment in 6 weeks (30 working days), which representations you knew to be false and thereby committed an offence of Obtaining Money under false pretence contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006’, another charge reads
Penpushing further reports that the defendant pleaded not guilty to the charges when they were read to him, consequent upon his plea, the agency counsel, Sanusi Galadanchi opened the case on February 17, 2022 and called eight witnesses, tendered several exhibits that were marked “Exhibits A to H” and closed the case on January 24, 2023.
The agency spokesperson stated that at the end of the prosecution’s case, the defendant filed a no case submission but was thrown out as the defendant was ordered by the court to enter his defence.
Penpushing also reports that subsequently, the defendant opened and closed its case on October 17th, 2024 where the first defendant testified for himself and on behalf of the 2nd defendant as a lone witness.
The court, commission in the statement explained that after the presentation of the defendants’ case, adopted the final written addresses of both parties’ judgment was reserved till April 28th, 2025.
Penpushing reports that at the resumption of the trial on Monday, April 28, 2025, Justice Adetujoye convicted and sentenced Amos to seven years imprisonment on each count of 6, 16, 17, 18, 19, 21, 22, 23 and 24 but discharged and acquitted the defendant on counts 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 20, 25, 26, 27, 28, 29 and 30 respectively.
The Oyo State High Court, however, ordered that the sentence should run concurrently and the convict must restitute the victims, while it is recalled that Amos was on December 14,2023 convicted and sentenced to seventy-five years imprisonment by Justice Bayo Taiwo for similar offence on December.
Penpushing further reports that the serial fraudster has two other ongoing trials before Federal High Courts in Ibadan, Oyo State, while record has it that another journey by the convict to the Correctional Centre began when he was arrested and arraigned before Justice Olusola Adetujoye on December 14, 2021 by the anti-crime commission.
Meanwhile, the notorious fraudster swindled several individuals under the pretext of investment ventures that led to the loss of money to the tune of over N1 billion by investors.
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