Serial Investment Fraudster Bags 63 Years in Prison
Justice Olusola Adetujoye of the Oyo State High Court, sitting in Ibadan, on Monday, April 28, 2025, convicted and sentenced Olaniyan Gbenga Amos to sixty-three (63) years imprisonment for multiple counts of investment fraud.
Amos was convicted alongside his company, Detorrid Heritage Investment Limited, on a 30-count charge filed by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC). The charges bordered on obtaining money under false pretenses, in violation of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
One of the charges read that Amos and his company, on June 18, 2020, fraudulently obtained N995,000 from one Bada Titilope under the guise of investing in Crime Alert Security Network, promising a 30% return in six weeks. Another victim, Onifade Isaac Olawale, lost N920,000 under similar false pretenses.
Amos pleaded not guilty when arraigned, but the EFCC, led by Counsel Sanusi Galadanchi, called eight witnesses, tendered several exhibits, and closed its case on January 24, 2023. The defendant’s "no case submission" was dismissed, and he later testified in his own defence.
On April 28, 2025, Justice Adetujoye convicted Amos on nine counts (6, 16, 17, 18, 19, 21, 22, 23, and 24) and sentenced him to seven years on each count, to run concurrently. He was discharged on the remaining counts and ordered to restitute his victims.
Amos had previously been sentenced to 75 years imprisonment on December 14, 2023, by Justice Bayo Taiwo of the same court for a similar offence. He also has two ongoing fraud trials before Federal High Courts in Ibadan.
The EFCC revealed that Amos defrauded multiple individuals of over N1 billion, under false investment schemes.
