Olaniyan Gbenga Amos, the Chief Executive Officer of Crime Alert Security Network, Ibadan, has been sentenced to 75 years in prison by Justice Bayo Taiwo of the Oyo State High Court. The verdict, delivered on December 14, 2023, follows his conviction on 35 counts of investment fraud.
Amos, along with his firm, Detorrid Heritage Investment Limited, faced charges brought by the Ibadan Zonal Command of the Economic and Financial Crimes Commission. The charges included obtaining money under false pretenses, contrary to the Advance Fee Fraud and Other Fraud-Related Offences Act 2006.
The court found Amos guilty on counts 27, 32, 33, 34, and 35, sentencing him to 15 years imprisonment for each count. However, he was acquitted on numerous other counts. The judgment mandates the sentences to run concurrently, and Amos is required to restitute the victims.
Amos, who had pleaded not guilty, was arrested and arraigned on December 14, 2021, by the EFCC. His fraudulent activities, involving fake investment ventures under “Crime Alert Security Network,” resulted in losses exceeding N1 billion for investors.
This conviction adds to three other ongoing trials that Amos faces before federal and state High Courts in Ibadan, Oyo State. The court’s decision underscores the deliberate deception perpetrated by Amos, causing financial harm to numerous individuals who trusted his investment schemes.
