Crime Alert Security Network CEO, Olaniyan Gbenga Amos, Sentenced to 75 Years for Investment Frauds

Justice Bayo Taiwo of the Oyo State High Court, Ibadan, has handed down a 75-year prison sentence to Olaniyan Gbenga Amos, the Chief Executive Officer of Crime Alert Security Network. The verdict, delivered on December 14, 2023, comes after Amos and his firm, Detorrid Heritage Investment Limited, were found guilty on 35 counts of investment fraud.

The Economic and Financial Crimes Commission (EFCC) brought forth the charges, accusing the defendants of obtaining money under false pretenses. The charges were based on Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud-Related Offences Act 2006.

The prosecution, led by EFCC counsel Sanusi Galadanchi, presented a compelling case, calling six witnesses and tendering eight exhibits during the trial that began on February 17, 2022, and concluded on January 24, 2023. The defendants, including Amos and Detorrid Heritage Investment Limited, pleaded “not guilty” to the charges.

Justice Taiwo, in delivering the verdict, convicted Amos on counts 27, 32, 33, 34, and 35, sentencing him to 15 years imprisonment for each count. However, Amos was discharged and acquitted on numerous other counts.

The court ordered that the sentences should run concurrently, and Amos is also required to restitute the victims. Notably, this isn’t the only legal battle for Amos, as he faces three other ongoing trials before federal and state High Courts in Ibadan, Oyo State.

Amos’ journey to incarceration began with his arrest and arraignment on December 14, 2021. The EFCC revealed that he orchestrated fake investment ventures, causing investors to lose over N1 billion. Amos deliberately failed to honor agreements with investors, leading to his conviction for multiple counts of fraud.