A 63-year-old man, Olaniyan Gbenga Amos, has been sentenced to 63 years in prison by Justice Olusola Adetujoye of the Oyo State High Court in Ibadan for multiple counts of investment fraud.
Amos, alongside his company, Detorrid Heritage Investment Limited, was found guilty on nine of the 30-count charges filed against him by the Economic and Financial Crimes Commission (EFCC).
The charges involved obtaining money under false pretenses, in violation of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.
According to EFCC spokesperson Dele Oyewale, Amos deceived several individuals by claiming to invest their money with a promise of 30% returns in six weeks through a scheme linked to Crime Alert Security Network.
Victims lost millions of naira, including N995,000 from one individual and N920,000 from another.
Despite pleading not guilty, the EFCC presented eight witnesses and several exhibits between 2022 and 2023. Amos’ “no case” submission was dismissed by the court, and he eventually testified in his own defense before judgment was delivered.
On April 28, 2025, Justice Adetujoye sentenced Amos to seven years on each of the nine counts he was convicted of. However, the terms will run concurrently, totaling 63 years.
He was acquitted on 21 other counts but was ordered to make restitution to his victims.
This is not Amos’ first conviction.
He was previously sentenced to 75 years in prison by Justice Bayo Taiwo of the same court in December 2023 for a similar fraud case.
He also faces two more ongoing fraud trials at the Federal High Court in Ibadan.
Amos was initially arrested and arraigned by the EFCC in December 2021.
His fraudulent schemes reportedly cost investors over N1 billion.