Justice Olusola Adetujoye of the Oyo State High Court in Ibadan has sentenced Olaniyan Gbenga Amos to 63 years in prison for defrauding several people through a fake investment scheme. The ruling, delivered on Monday, April 28, came after Amos and his company, Detorrid Heritage Investment Limited, were found guilty on 30 counts brought by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
The charges focused on obtaining money by false pretence, under Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006. In one case, Amos collected ₦995,000 from a victim, falsely claiming it would be invested through the so-called Crime Alert Security Network, with a promised return of 30% in six weeks. A similar incident involved another victim who paid ₦920,000 under the same false promise.
Despite pleading not guilty, the EFCC presented eight witnesses and several exhibits between February 2022 and January 2023. Amos’s no-case submission was dismissed, and he was required to defend himself. He took the stand in October 2024, acting as the sole witness for both himself and his firm. After reviewing the final written arguments, the court delivered its verdict.
Justice Adetujoye sentenced him to seven years each on nine counts, making a total of 63 years. However, Amos was acquitted on 21 other counts. The sentences will run concurrently, and the court also ordered that victims be repaid.
This isn’t Amos’s first conviction. In December 2023, he was sentenced to 75 years in a similar fraud case by Justice Bayo Taiwo. He is still facing two more trials at the Federal High Court in Ibadan. Investigations revealed that his phony investment scheme caused over ₦1 billion in losses. His legal troubles began after his arrest and arraignment on December 14, 2021.
