Ibadan, Oyo State – April 29, 2025 — Justice Olusola Adetujoye of the Oyo State High Court in Ibadan has sentenced serial fraudster Olaniyan Gbenga Amos to 63 years in prison for his role in a multi-million-naira investment scam.

Amos, alongside his firm Detorrid Heritage Investment Limited, was convicted on nine out of 30 counts of obtaining money under false pretences, brought against him by the Economic and Financial Crimes Commission (EFCC). The charges stemmed from fraudulent investment schemes that promised victims a 30% return in 30 working days.

In one of the charges, Amos was found guilty of defrauding Bada Titilope of ₦995,000, claiming it was for an investment with Crime Alert Security Network, while in another, he obtained ₦920,000 from Onifade Isaac Olawale under similar false promises.

Though he pleaded not guilty, the EFCC presented eight witnesses and numerous exhibits during a trial that began in 2022. His no-case submission was dismissed by the court, which eventually convicted him on April 28, 2025.

Justice Adetujoye sentenced Amos to seven years on each of the nine counts — to run concurrently — and ordered restitution to the victims. He was acquitted on 21 counts.

This is not Amos’s first conviction. On December 14, 2023, he was sentenced to 75 years in prison by Justice Bayo Taiwo of the same court in a similar case. He also has two other ongoing fraud trials before the Federal High Courts in Ibadan.

EFCC investigations revealed that Amos defrauded investors of over ₦1 billion through deceptive investment schemes. His latest conviction underscores a growing crackdown on Ponzi-style investment frauds in Nigeria.