In a landmark judgment, the Oyo State High Court in Ibadan has sentenced Olaniyan Gbenga Amos, an investment fraudster, to 63 years in prison for multiple counts of obtaining money under false pretenses. Justice Olusola Adetujoye delivered the verdict on April 28, 2025, following a comprehensive trial that highlighted the defendant's fraudulent activities through his company, Detorrid Heritage Investment Limited.
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The Economic and Financial Crimes Commission (EFCC) prosecuted Amos on a 30-count charge, detailing how he deceived numerous individuals into investing in a fictitious scheme promising 30% returns within six weeks. Victims were lured with false assurances, resulting in significant financial losses.
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Despite pleading not guilty, the court found Amos culpable on multiple counts, sentencing him to seven years for each, to run concurrently. Additionally, the court mandated restitution to the victims, emphasizing the severity of the offense and its impact on public trust.
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This conviction serves as a stern warning to potential fraudsters and underscores the judiciary's commitment to combating financial crimes. The EFCC continues to urge the public to exercise caution and conduct due diligence before engaging in investment opportunities.
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EFCC
Financial Crime
Fraud Prevention
investment fraud
Investor Protection
Justice Served
Nigerian Judiciary
Oyo State High Court