Justice Olusola Adetujoye of the Oyo State High Court in Ibadan, on Monday, April 28, convicted and sentenced Olaniyan Gbenga Amos to 63 years in prison for multiple investment fraud.
Amos was convicted alongside his firm, Detorrid Heritage Investment Limited, on 30-count charges prosecuted by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
The charges centred on obtaining money 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 21 of the charge reads: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 18th of June, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N995,000.00 (Nine Hundred and Ninety-five Thousand Naira) only from Bada Titilope, 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.”
Another charge reads: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 29th of January, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N920,000.00 (Nine Hundred and Twenty Thousand Naira) only from Onifade Isaac Olawale, 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.”
Amos pleaded not guilty to the charges. EFCC counsel Sanusi Galadanchi opened the case on February 17, 2022, calling eight witnesses and tendering exhibits marked “A to H” before closing on January 24, 2023.
Amos’s “no case submission” was overruled, and he was ordered to enter his defence. On October 17, 2024, Amos testified as the sole witness for himself and his firm. The court adopted final written addresses from both parties, reserving judgment until April 28.
Justice Adetujoye sentenced Amos to seven years’ imprisonment on each of counts 6, 16, 17, 18, 19, 21, 22, 23, and 24, totalling 63 years, but discharged him on counts 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 20, 25, 26, 27, 28, 29, and 30. The court ordered the sentences to run concurrently and mandated restitution to victims.
Previously, Amos was sentenced to 75 years’ imprisonment by Justice Bayo Taiwo of the same court on December 14, 2023, for similar offences. He faces two ongoing trials in the Federal High Courts in Ibadan. Amos’s fraudulent schemes, run through the fake “Crime Alert Security Network,” led to over N1 billion in losses for investors.
His arrest and arraignment before Justice Adetujoye began on December 14, 2021.
