Court Sentences Fraudster to 75 Years in Prison Over Scam

In a pivotal legal ruling, the Oyo State High Court in Ibadan pronounced a substantial verdict on December 14, 2023, convicting Olaniyan Gbenga Amos to a staggering 75 years behind bars.

The sentence, meted out by Justice Bayo Taiwo, stemmed from multiple counts of investment fraud linked to his firm, Detorrid Heritage Investment Limited.

The case, propelled by the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC), delved into 35 charges against Amos. These included accusations of obtaining funds by false pretenses, directly violating the stipulations outlined in the Advance Fee Fraud and Other Fraud Related Offences Act 2006.

Amos, initially pleading innocence, faced an exhaustive prosecution led by Sanusi Galadanchi, the EFCC Counsel. The case saw six witnesses testify and eight exhibits presented, leading to the closure of the prosecution’s case in January 2023. Despite attempts to submit a “no case submission,” the court dismissed this plea.

After presenting three witnesses in his defense, Amos was found guilty on specific counts by Justice Taiwo. He received a 15-year sentence for each of counts 27, 32, 33, 34, and 35 while being acquitted on numerous other counts. Additionally, the court mandated Amos to reimburse the victims while serving his concurrent sentences.

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This isn’t Amos’ sole legal entanglement; he faces three ongoing trials before Federal and State High Courts in Ibadan. His fraudulent activities reportedly led to the loss of over N1 billion, leaving investors severely affected.

Arrested and arraigned before Justice Bayo Taiwo in December 2021 by the EFCC, Amos’ conviction underscores the severe consequences of his investment schemes, which defrauded numerous individuals and shattered trust, causing substantial financial harm.

Source: EFCC Nigeria X handle @officialEFCC