Ibadan serial fraudster bags 75 years jail term

An Oyo State High Court sitting in Ibadan on Tuesday, sentenced a serial fraudster, Olaniyan Gbenga Amos, to 75 years in prison after he was found guilty of multiple investment frauds.

While delivering the judgement, Justice Bayo Taiwo held that Amos who is the Chief Executive Officer of Crime Alert Security Network based in Ibadan, had used another of his companies, Detorrid Heritage Investment Limited, to defraud unsuspecting members of the public who invested with him.

According to a statement by the Head of Media and Publicity of the Economic and Financial Crimes Commission, Dele Oyewale, Amos was convicted alongside Detorrid Heritage Investment Limited after he was first arraigned on December 14.

According to Oyewale, the convict and his firm were arraigned on 35 count charges by the Ibadan Zonal Command of the Economic and Financial Crimes Commission, 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 read: ‘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 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,” the EFCC statement said.

“At the resumption of the trial on Thursday, December 14, 2023, Justice Taiwo convicted and sentenced the defendant to 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.

“Olaniyan 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 N1bn by the investors,” Oyewale added.

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