Serial Investment Scammer Sentenced to 63 Years in Ibadan Court for Fraud

In a major crackdown on financial fraud, Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, on Monday, April 28, 2025, sentenced notorious investment fraudster Olaniyan Gbenga Amos to 63 years imprisonment for defrauding investors through false investment schemes.

Olaniyan, alongside his firm Detorrid Heritage Investment Limited, was found guilty on nine out of a 30-count charge brought against him by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC). The charges centered around obtaining money under false pretences in violation of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

One of the charges detailed how Olaniyan obtained ₦995,000 from one Bada Titilope in June 2020 by falsely claiming it was for registration and investment in a scheme promising a 30% return in six weeks. In another case, he obtained ₦920,000 from Onifade Isaac Olawale under the same false promise.

Olaniyan pleaded not guilty, but after hearing testimony from eight EFCC witnesses and rejecting his “no case submission,” the court proceeded to trial. He testified as the sole witness for himself and the company. On April 28, 2025, the court found him guilty on counts 6, 16, 17, 18, 19, 21, 22, 23, and 24, sentencing him to seven years per count, to run concurrently. He was acquitted on 21 other counts and ordered to restitute the victims.

This is not Olaniyan’s first conviction. In December 2023, Justice Bayo Taiwo of the same court sentenced him to 75 years imprisonment for a similar fraud. He also faces two ongoing trials at Federal High Courts in Ibadan.

The EFCC stated that Olaniyan orchestrated fraudulent investment schemes that caused over ₦1 billion in losses to unsuspecting investors. His arrest on December 14, 2021, marked the beginning of multiple legal battles that continue to unfold.

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