An Oyo State High Court in Ibadan has sentenced Olaniyan Gbenga Amos to 63 years in prison for orchestrating multiple fraudulent investment schemes that defrauded unsuspecting investors of millions of naira.
Justice Olusola Adetujoye delivered the judgment on Monday, April 28, 2025, convicting Amos and his firm, 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 were for obtaining money under false pretences, in violation of Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.
According to the EFCC, Amos defrauded multiple individuals by promising unrealistic returns—typically 30% in six weeks—through sham investment opportunities linked to Crime Alert Security Network. One of the charges revealed he collected N995,000 from a victim under false investment claims; another involved N920,000 obtained under similar pretences.
Amos pleaded not guilty when the charges were read. However, the prosecution, led by counsel Sanusi Galadanchi, presented eight witnesses and submitted several exhibits. Despite filing a “no case submission,” the court ordered him to open his defence, which he eventually concluded on October 17, 2024.
Justice Adetujoye found him guilty on nine counts (6, 16–19, 21–24) and sentenced him to seven years on each, to run concurrently. He was acquitted on the remaining counts. The court also ordered Amos to restitute the victims.
This latest conviction adds to Amos’s criminal record. In December 2023, he was sentenced to 75 years by Justice Bayo Taiwo of the same court for a similar fraud. He also faces two additional fraud-related trials at the Federal High Court in Ibadan.
The total financial loss from his scams is estimated to exceed N1 billion.
