COURT JAILS MAN 63 YEARS FOR FRAUD IN IBADAN
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On Monday, April 28, 2025, Oyo State High Court Judge Olusola Adetujoye in Ibadan found Olaniyan Gbenga Amos guilty of serial investment fraud and sentenced him to sixty-three (63) years in prison.
He and his company, Detorrid Heritage Investment Limited, were found guilty. The Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, or EFCC, charged them with 30 counts that bordered on obtaining by false pretenses, which is against Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and is punishable under Section 1(3).
Count 21 of the charge reads: “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.”
Another Charge 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.”
The defendant pleaded not guilty to the charges when they were read to him.
Consequent upon his plea, the EFCC Counsel, Sanusi Galadanchi opened the case on February 17, 2022 and called eight (8) witnesses, tendered several exhibits that were marked “Exhibits A to H” and closed the case on January 24, 2023.
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. 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.
Justice Olusola Adetujoye of the Federal High Court, sitting in Ibadan, on Monday, April 28, 2025, convicted and sentenced a man identified as Amos to seven years imprisonment on each of nine counts related to a large-scale investment fraud. The judgment came after both parties adopted their final written addresses at an earlier hearing.
The defendant was found guilty on counts 6, 16, 17, 18, 19, 21, 22, 23, and 24, but was discharged and acquitted on 21 other counts including counts 1 through 5, 7 through 15, and counts 20 and 25 through 30.
The court ordered that the prison terms would run concurrently, meaning Amos will serve a total of seven years. Additionally, the court directed the convict to restitute the victims of the fraud.
Amos is no stranger to criminal conviction. On December 14, 2023, he was sentenced to 75 years imprisonment by Justice Bayo Taiwo of the Oyo State High Court, Ibadan, for a similar offence.
He also faces two ongoing trials before Federal High Courts in Ibadan, Oyo State, for related fraud cases.
His latest conviction stems from a case filed by the Economic and Financial Crimes Commission (EFCC), which arrested and arraigned him on December 14, 2021. According to the EFCC, Amos defrauded numerous individuals under the guise of investment opportunities, leading to a collective financial loss of over ₦1 billion.
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