By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
ClimaxNewsHubClimaxNewsHub
  • Trending Now
    • Politics
    • Crimes And Security
    • Entertainment
    • Finance
    • Fashion
    • Sport
    • Technology
    • Health
    • Opinion
    • Education
    • Agriculture
  • Livescores
Search
Technology
  • Privacy Policy
  • About us
  • Contact
Health
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Ibadan Court Jails Investment Fraudster 75 Years
Share
Sign In
Notification Show More
Aa
ClimaxNewsHubClimaxNewsHub
Aa
Search
  • Trending Now
    • Politics
    • Sport
    • Crimes And Security
    • Entertainment
    • Finance
    • Education
    • Health
    • Opinion
    • Fashion
    • Agriculture
  • Livescores
  • My Bookmarks
  • Technology
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
ClimaxNewsHub > Blog > Crimes And Security > Ibadan Court Jails Investment Fraudster 75 Years
Crimes And SecurityFinanceNews

Ibadan Court Jails Investment Fraudster 75 Years

Share
5 Min Read
SHARE

Justice Bayo Taiwo of the Oyo State High Court, sitting in Ibadan, on Thursday, December 14, 2023 convicted and sentenced Olaniyan Gbenga Amos to seventy five years imprisonment for multiple investment fraud.

He was convicted alongside his firm, Detorrid Heritage Investment Limited.
They were prosecuted on 35-count count charges by the Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, bordering on obtaining by 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.

Count 35 of the charge reads: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about the 20th of February, 2020, at Ibadan, within the jurisdiction of this honourable court, with intent to defraud obtained the sum of N1,540,000 (One million, Five Hundred and Forty Thousand only) from Akinlabi Qasim Dada, when you falsely represented to him that the money was meant for registration and investment with Crime Alert Security Network with a promise of 30% return on investment in six weeks (30 working days), which representation 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 27th of August, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N170,000 (One Hundred and Seventy Thousand Naira) only from Alhaji Mukaila Odunayo, 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.

In view of his plea, EFCC Counsel, Sanusi Galadanchi opened the case on February 17, 2022 and called six witnesses, tendered eight exhibits and closed the case on January 24, 2023. At the end of the prosecution’s case, the defendant filed a “no case submission” which was overruled by the court. Consequently, the defendant opened and closed his case by calling three witnesses. Thereafter, Justice Taiwo reserved judgment in the matter till December 14, 2023.

At the resumption of the trial on Thursday, December 14, 2023, Justice Taiwo convicted and sentenced the defendant to fifteen (15) years imprisonment on each of counts 27, 32, 33, 34, and 35 but discharged and acquitted the defendant on counts 1, 2, 3, 4, 5, 6, 7 ,8, 9; 10, 11, 12, 13, 14, 15, 16, 17, 18, 19; 20, 21, 22, 23, 24, 25, 26, 28, 29; 30 and 31 respectively.

Furthermore, the court ordered that the sentence should run concurrently and the defendant should also restitute the victims. Amos has three other ongoing trials before Federal and State High Courts in Ibadan, Oyo State.

The convict’s journey to the Correctional Centre began when he was arrested and arraigned before Justice Bayo Taiwo on December 14, 2021 by the EFCC. 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.

Credit: EFCC

You Might Also Like

Customs Command Hands Over Seized Ammunition to NCCSALW

Man Arraigned Over Alleged Visa Scam in Lagos

Two Chinese Docked Over Alleged Illegal Dealing in Mineral Resources

EFCC Arraigns Two for Non-declaration of Assets

Makurdi Courts Jail 21 Internet Fraudsters

TAGGED: EFCC, Fraud, Nigeria

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

    By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
    Share this Article
    Facebook Twitter Whatsapp Whatsapp Email
    Share
    What do you think?
    Love0
    Surprise0
    Sad0
    Happy0
    Angry0
    Previous Article EFCC clears air on alleged underage convict
    Next Article Reps Member, Hon. Makinde supports constituents with food packs for yuletide
    Leave a comment Leave a comment

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Stay Connected

    Facebook Like
    Twitter Follow
    Pinterest Pin
    Instagram Follow
    - Advertisement -
    Ad imageAd image

    Latest News

    Customs Command Hands Over Seized Ammunition to NCCSALW
    Crimes And Security June 5, 2025
    Man Arraigned Over Alleged Visa Scam in Lagos
    Crimes And Security June 5, 2025
    Two Chinese Docked Over Alleged Illegal Dealing in Mineral Resources
    Crimes And Security June 5, 2025
    EFCC Arraigns Two for Non-declaration of Assets
    Crimes And Security June 5, 2025
    //

    Climax News Hub is a professional news platform. Here we will provide you only interesting content, which is accurate and true.

    Quick Link

    • Trending Now
      • Politics
      • Crimes And Security
      • Entertainment
      • Finance
      • Fashion
      • Sport
      • Technology
      • Health
      • Opinion
      • Education
      • Agriculture
    • Livescores

    Contact

    Address
    Akure, Ondo State, Nigeria.
    Call Information
    Phone: 08119867422
    Email: news@climaxnewshub.com

    Sign Up for Our Newsletter

    Subscribe to our newsletter to get our newest articles instantly!

      ClimaxNewsHubClimaxNewsHub
      Follow US

      © 2023 ClimaxNewsHub. All Rights Reserved. Designed by Daniel Aderoboye

      • Privacy Policy
      • About us
      • Contact
      Join Us!

      Subscribe to our newsletter and never miss our latest news, podcasts etc..

        Zero spam, Unsubscribe at any time.
        Welcome Back!

        Sign in to your account

        Lost your password?