The Oyo High Court in Ibadan has sentenced Olaniyan Amos to 63 years imprisonment over a string of investment fraud.
Amos, alongside his company, Detorrid Heritage Investment Limited, was convicted on Monday by the presiding judge, Olusola Adetujoye.
Amos was arraigned by the Ibadan zonal directorate of the Economic and Financial Crimes Commission (EFCC) on a 30-count charge bordering on fraudulent dealings.
The charges bordered on false pretences, an offence contrary to section 1(1)(a) and punishable under section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
“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,” part of the charge sheet 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.”
The defendant pleaded not guilty to all the charges.
Thereafter, the EFCC Counsel, Sanusi Galadanchi opened the case on February 17, 2022.
He called eight witnesses, tendered several exhibits that were marked “Exhibits A to H” and closed the case on January 24, 2023.
At the end of the prosecution’s case, the defendant filed a “no case submission” but was thrown out as the defendant was ordered by the court to enter his defence.
Subsequently, the defendant opened and closed its case on October 17th, 2024 where the first defendant testified for himself and on behalf of the 2nd defendant as a lone witness.
After the presentation of the defendants’ case, the court adopted the final written addresses of both parties as judgment was reserved till April 28th, 2025.
At the resumption of the trial on Monday, April 28, 2025, Justice Adetujoye convicted and sentenced Amos to seven (7) years imprisonment on each count of 6, 16, 17, 18, 19, 21, 22, 23 and 24 but discharged and acquitted the defendant on counts 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 20, 25, 26, 27, 28, 29 and 30 respectively.
The court also ordered that the sentence should run concurrently and the convict must restitute the victims.
Amos was convicted and sentenced to seventy-five (75) years imprisonment by Justice Bayo Taiwo of the Oyo State High Court, Ibadan for similar offence on December 14, 2023.
The convict has two other ongoing trials before the Federal High Courts in Ibadan, Oyo State.