By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: Ibadan court jails investment fraudster for 75 years
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > Metro > Ibadan court jails investment fraudster for 75 years
Metro

Ibadan court jails investment fraudster for 75 years

Godson
Last updated: December 20, 2023 5:18 am
Godson Published December 20, 2023
Share
SHARE

Justice Bayo Taiwo of the Oyo State High Court sitting in Ibadan, on Thursday, December 14, 2023 convicted and sentenced Olaniyan Gbenga Amos to seventy five, 75, years imprisonment for multiple investment fraud.

A statement from the agency says Amos was convicted alongside his firm, Detorrid Heritage Investment Limited.

They were prosecuted on 35-count count charges by the Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, bordering on obtaining 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 35 of the charge reads:

“That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about the 20th of February, 2020, at Ibadan, within the jurisdiction of this honourable court, with intent to defraud obtained the sum of  N1,540,000 (One million, Five Hundred and Forty Thousand only) from Akinlabi Qasim Dada, when you falsely represented to him that the money was meant for registration and investment with Crime Alert Security Network with a promise of 30% return on investment in six weeks (30 working days), which representation 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 27th of August, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of  N170,000 (One Hundred and Seventy Thousand Naira) only from Alhaji Mukaila Odunayo, 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.”

The defendant pleaded “not guilty” to the charges when they were read to him.

In view of his plea, EFCC Counsel, Sanusi Galadanchi opened the case on February 17, 2022 and called six witnesses, tendered eight exhibits and closed the case on January 24, 2023. At the end of the prosecution’s case, the defendant filed a “no case submission” which was overruled by the court. Consequently, the defendant opened and closed his case by calling three witnesses. Thereafter, Justice Taiwo reserved judgment in the matter till December 14, 2023.

At the resumption of the trial on Thursday,  December 14, 2023, Justice Taiwo convicted  and sentenced the defendant to fifteen (15) years imprisonment on each of counts 27, 32, 33, 34, and 35 but discharged and acquitted the defendant on counts 1, 2, 3, 4, 5, 6, 7 ,8, 9; 10, 11, 12, 13, 14, 15, 16, 17, 18, 19; 20, 21, 22, 23, 24, 25, 26, 28, 29; 30 and 31 respectively.

Furthermore, the court ordered that the sentence should run concurrently and the defendant should also restitute the victims. Amos has three other ongoing trials before Federal and State High Courts in Ibadan, Oyo State.

The convict’s journey to the Correctional Centre began when he was arrested and arraigned before Justice Bayo Taiwo on December 14, 2021 by the EFCC. He swindled several individuals through fake investment ventures that led to the loss of money to the tune of over N1 billion by investors. Amos deliberately reneged to meet up with the agreements he made with his investors, by not paying the agreed “Return on Investment” to those who invested in “Crime Alert Security Network”, a security investment programme under the umbrella of his firm.

Ibadan court jails investment fraudster for 75 years

You Might Also Like

Woman ‘robs lover of N15m’ in bitcoins and phones in Lagos

Woman uses her menstru@l bl00d and egg to curse a man for insulting a priv@te part

Update: Akwa Ibom police arrest lawyer caught in viral video assaulting his wife

Boy arrested for fighting allegedly dies in police custody in Anambra

Osun Amotekun arrests two boys for stealing food, money

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Your sins can’t be forgiven even if you join us – APC tells Fubara
  • Seven people killed as severe weather lashes South AfricaSeven people killed as severe weather lashes South Africa
  • Former Chelsea owner, Roman Abramovich breaks three-year silence on being forced to sell the club
  • Sokoto police confirm six k!lled in suspected Eid bomb blast
  • Women didn’t let me rest even when they knew I was married – Charly Boy

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?