Report on Interest
under logo

EFCC arraigns local Ponzi schemer for scamming investors N35m

By News Desk

The Economic and Financial Crimes Commission (EFCC) has arraigned an Oyo State-based Ponzi schemer, Olaniyan Amos, for scamming investors in the state to the tune of N35 million.

The suspect, popularly known as ‘Crime Alert’ was said to have lured his victims through his company Detorrid Heritage Investment Nigeria Limited (DHIL) popularly known as Crime Alert Security Network Investment, with high rate of Return on Investments (ROI).

As gathered, Amos induced his victims to invest in a network scheme which offered a monthly 30% returns on investment, and that with market appreciation, the investors stand to earn better.

The Guild learnt that the suspect ran out of luck following petitions by his victims and was subsequently arrested by operatives of the anti-graft Ibadan Zonal Command

After his arrest, Olaniyan was arraigned on a 35-count charge bordering on conspiracy, operating business of other financial institutions and obtaining money under false pretense to the tune of N35 million before the Federal High Court in Ibadan.

One of the counts state: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited between August, 2019 and May, 2021 at Ibadan, within the jurisdiction of this Honourable Court, without license, operate business of other financial institutions and thereby committed an offence contrary to section 58(1) and punishable under section 59(6) (a and b) of the Banks and Other Financial Institutions Act, Cap B3 Laws of the Federation Nigeria, 2004.”

Count 20 reads: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 29th of September, 2020, at Ibadan within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N15, 000,000:00 (Fifteen Million Naira) only from Fadipe Babajide Ayorinde, 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 representation you knew to be false and thereby committed an offence contrary to section 1 (I)(a) and punishable under section (3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2016.”

The defendant, however, pleaded “not guilty” to the charges before Justice Uche Agomoh of the Federal High Court sitting in Ibadan, Oyo State, alongside his company, Detorrid Heritage Investment Limited.

In view of their plea, the prosecution counsel, Galadanchi Sanusi, asked the court to remand the defendant at the Nigerian Correctional Service and fix a date for trial to commence.

Counsel for the first and second defendants, Richard. Ogunwole (SAN) informed the court that he has filed an application for the release of his client on bail. But the court ruled that the application was not ripe for hearing as the further affidavit filed by the defendant was not properly before the court.

Consequently, Justice Agomoh adjourned till October 25, 2021 “for hearing of bail application” and also ordered that the defendant be remanded at the Nigerian Correctional Centre, Abolongo, Oyo State.

Leave A Reply

%d bloggers like this: