IBADAN: Justice Olusola Adetujoye of the Oyo State High Court in Ibadan has sentenced Olaniyan Gbenga Amos, Chief Executive Officer of Detorrid Heritage Investment Limited, to 63 years in prison for multiple counts of investment fraud.
Amos was convicted on Monday, April 28, on 30 counts brought against him by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), b.
The charges centered on obtaining money under pretenses, in violation of Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
One of the charges stated that on June 18, 2020, Amos and his firm fraudulently obtained ₦995,000 from a victim, Bada Titilope, under the pretense of investing in Crime Alert Security Network, with a promised return of 30% in six weeks.
Another charge revealed he obtained ₦920,000 from Onifade Isaac Olawale on similar terms.
Amos pleaded not guilty to all charges. The EFCC, represented by counsel Sanusi Galadanchi, opened its case in February 2022, called eight witnesses, and tendered documentary evidence before closing in January 2023.
READ ALOS:
After his “no case” submission was overruled, Amos testified as the sole witness for the defense in October 2024. Final written addresses were adopted, and judgment was delivered on April 28, 2025.
Justice Adetujoye found Amos guilty on nine counts—specifically counts 6, 16–19, and 21–24—and sentenced him to seven years on each, to run concurrently, totaling 63 years. He was discharged on the remaining 21 counts. The court also ordered restitution to the victims.
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 for similar offenses. He also faces two ongoing fraud trials in the Federal High Court in Ibadan.
His fraudulent operations, conducted through the fictitious Crime Alert Security Network, are believed to have defrauded investors of over ₦1 billion.
Amos was first arraigned in this case on December 14, 2021.
