The 45-year old Chief Executive Officer of Crime Alert Security Network, Olaniyan Gbenga Amos, will be spending the next 75 years in prison custody for multiple financial fraud worth over N1b Naira in Oyo State.
P.M.EXPRESS reports that it was the judgment of Justice Bayo Taiwo of the Oyo State High Court, sitting in Ibadan, who convicted and sentenced Amos for multiple investment fraud.
The convicted, Amos, was jailed alongside his firm, Detorrid Heritage Investment Limited on 35-count count charges by the Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, bordering on obtaining by false pretences, contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
During the trial, the EFCC witness, Juliet Odogu, Head of Counter-Terrorism and General Investigation Department, EFCC Ibadan Zonal office, revealed how Amos defrauded over 2,000 investors after he introduced a product known as Crime Alert Security Network, which he used to swindle the victims.
Odogu had explained that EFCC received over 2,000 petitions from Nigerians that Amos defrauded them of their hard-earned money after refusing to fulfil his obligation of repaying their dividends, which investors paid between N5,000 and N9 million depending on their subscriptions.
She tendered the documents containing the names, amount paid and receipts of each customer that petitioned the agency before the Court.
On 14th December, 2023, Justice Taiwo found him guilty and sentenced him accordingly.
He had earlier pleaded not guilty.
Counsel to the Economic and Financial Crimes Commission (EFCC), Sanusi Galadanchi, opened the case on February 17, 2022, and called six witnesses, tendered eight exhibits and closed the case on January 24, 2023. At the end of the prosecution’s case, the defendant filed a ‘no case submission’ which was over ruled by the Court.
Consequently, the defendant opened and closed his case by calling three witnesses. Thereafter, Justice Taiwo reserved judgment in the matter till December 14, 2023.
At the resumption of trial on December 14, Justice Taiwo convicted and sentenced the defendant to 15 years imprisonment each on five counts but discharged and acquitted him on 30 counts.
The Court also ordered that the sentence should run concurrently and the defendant should also restitute the victims.
Amos has three other ongoing trials before the Federal and State High Courts in Ibadan, Oyo State, which means that he will be coming to the Court for allegedly swindling several individuals of over N1 billion through fake investment ventures.
The convict’s journey to the correctional centre began when he was arrested and arraigned before Justice Bayo Taiwo on December 14, 2021, by the EFCC. He swindled several individuals through fake investment ventures that led to the loss of money to the tune of over N1bn by the investors.
The convicted Olaniyan deliberately reneged to meet up with the agreements he made with his investors, by not paying the agreed “Return on Investment” to those who invested in “Crime Alert security Network.