Investment fraudster bags 63 years jail term in Ibadan
By Adejayan Gbenga
Justice Olusola Adetujoye of the Oyo State High Court in Ibadan has sentenced Olaniyan Gbenga Amos to 63 years in prison for multiple counts of investment fraud. He was convicted alongside his firm, Detorrid Heritage Investment Limited, following a 30-count charge filed by the Economic and Financial Crimes Commission (EFCC).
The charges, brought by the EFCC’s Ibadan Zonal Directorate, centred on obtaining money by false pretence, contrary to the Advance Fee Fraud and Other Fraud Related Offences Act 2006. The offences involved defrauding individuals with fake investment promises, including returns of 30% in six weeks.
According to EFCC spokesperson Dele Oyewale, one of the charges revealed that Amos obtained N995,000 from a victim under the guise of investing with Crime Alert Security Network. In another case, he collected N920,000 from a separate victim using a similar false representation.
Amos pleaded not guilty to all charges. EFCC prosecutor Sanusi Galadanchi opened the case in February 2022, calling eight witnesses and presenting several exhibits. After the prosecution rested its case in January 2023, Amos’s “no-case submission” was dismissed, and he proceeded to defend himself.
He testified on behalf of both himself and the company, and after both parties adopted their final written addresses, the court reserved judgment until 28 April 2025.
Justice Adetujoye sentenced Amos to seven years each on counts 6, 16, 17, 18, 19, 21, 22, 23, and 24. He was discharged on the remaining counts. The sentences are to run concurrently, and the court ordered that he make restitution to the victims.
This is not Amos’s first conviction. In December 2023, he received a 75-year sentence from Justice Bayo Taiwo of the same court for a similar offence.
EFCC noted that Amos still faces two additional fraud trials in Federal High Courts in Ibadan. His latest conviction stems from a scheme that defrauded investors of over N1 billion.
