The owner of Detorrid Heritage Investment Limited, Olaniyan Amos, has been arraigned before the Federal High Court in Ibadan, Oyo State, over a N35m fraud.
Amos was arraigned alongside his company, Crime Alert Security Network Investment, on 35 counts bordering on conspiracy, operating businesses of other financial institutions and obtaining money under false pretences.
He was reportedly arrested after his victims petitioned the Economic and Financial Crimes Commission, accusing him of inducing them to invest in a network scheme that offered a monthly 30 per cent return on investment.
The defendant and his company pleaded not guilty to the charges.
Following their pleas, the prosecution counsel, Galadanchi Sanusi, urged the court to remand Amos and fix a date for trial.
The counsel for the defendants, Richard Ogunwole (SAN), informed the court of a bail application he filed on behalf of his clients.
However, the court ruled that the application was not ripe for hearing, as the affidavit filed by the defence was not properly filed before the court.
The judge, Justice Uche Agomoh, subsequently ordered that Amos be remanded at the custodial centre at Abolongo, Oyo State, and adjourned till October 25, 2021, for hearing of the bail application.
The counts read in part, “That you, Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited, on or about September 29, 2020, at Ibadan, within the jurisdiction of this honourable court, with intent to defraud, obtained the sum of N15,000,000 from Fadipe Babajide Ayorinde, when you falsely represented to him that the money was meant for registration and investment with Crime Alert Security Network with a promise of 30% return on investment in six weeks (30 working days), which representation you knew to be false, thereby committing an offence contrary to Section 1 (I)(a) and punishable under Section (3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2016.”
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
Note: This content is provided and owned by the punchng.com
Source: Security firm boss charged with N35m investment fraud