Ibadan Court Jails Investment Fraudster Olaniyan Amos for 63 Years
Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, has sentenced Olaniyan Gbenga Amos, the CEO of Detorrid Heritage Investment Limited, to 63 years in prison for defrauding multiple investors under false pretences.
The Economic and Financial Crimes Commission (EFCC), Ibadan Zonal Directorate, arraigned Amos on 30 counts of obtaining money by false pretence in violation of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
In one of the charges, Amos was accused of obtaining ₦995,000 from one Bada Titilope under the guise of registering for an investment promising a 30% return within six weeks, a claim he knew to be false. In another instance, he collected ₦920,000 from Onifade Isaac Olawale with similar fraudulent promises.
Although Amos pleaded not guilty, the EFCC’s counsel, Sanusi Galadanchi, called eight witnesses and presented extensive documentary evidence. Amos’ “no case submission” was dismissed, and he later testified as the sole witness for the defence.
On Monday, April 28, 2025, the court found him guilty on nine counts, sentencing him to seven years per count, to run concurrently, totaling 63 years. He was discharged on 21 counts and ordered to restitute the victims.
This conviction adds to a previous 75-year sentence handed to Amos by Justice Bayo Taiwo of the same court on December 14, 2023, also for investment fraud. He is currently facing two more trials at the Federal High Court in Ibadan.
Amos was initially arrested in December 2021, and investigations revealed he defrauded investors of over ₦1 billion through bogus investment schemes.