In Oyo State’s High Court in Ibadan, Olaniyan Gbenga Amos, CEO of Crime Alert Security Network, received a staggering 75-year imprisonment sentence due to multiple counts of investment fraud. The conviction, announced by Dele Oyewale, the spokesperson for the Economic and Financial Crimes Commission (EFCC), came following their trial on 35 counts of false pretenses, breaching Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
Among the charges, one instance detailed how Olaniyan and his firm, Detorrid Heritage Investment Limited, obtained N1,540,000 from an individual under false pretenses for a promised 30% return on investment in six weeks. Despite pleading “not guilty,” the EFCC counsel, Sanusi Galadanchi, presented six witnesses and eight exhibits during the trial, leading to the eventual conviction.
The court’s ruling saw the defendant sentenced to 15 years in prison on specific counts, while being acquitted on several others. Justice Bayo Taiwo also ordered the sentences to run concurrently and mandated restitution to the victims. This marked a significant milestone in the legal pursuit of justice against Olaniyan, who faces three ongoing trials in federal and state High Courts in Ibadan, Oyo State.
Olaniyan’s saga began with his arrest and arraignment on December 14, 2021, after swindling investors of over N1 billion through fake investment schemes related to “Crime Alert Security Network.” His deliberate failure to honor agreements left numerous investors bereft of their expected returns, ultimately leading to his conviction and the commencement of his correctional journey.