Crime Alert Boss Jailed for 75 Years: Justice Served, But Questions Remain.

 

In a significant legal development, the Oyo State High Court has handed down a 75-year prison sentence to Amos Olaniyan for engaging in multiple investment fraud schemes. The verdict was delivered by Judge Bayo Taiwo in Ibadan, with the conviction extending to Olaniyan's firm, Detorrid Heritage Investment Limited. The Economic and Financial Crimes Commission (EFCC) disclosed that the Ibadan zonal command prosecuted Olaniyan on a 35-count charge related to obtaining money by false pretense.

The EFCC statement revealed that Olaniyan, facing additional cases in federal and state high courts in Ibadan, was apprehended by the anti-graft agency and arraigned before Judge Taiwo on December 14, 2021. The charges centered on his alleged swindling of individuals through fictitious investment ventures, resulting in a financial loss exceeding N1 billion.

Olaniyan's fraudulent activities were primarily associated with the "Crime Alert Security Network," a deceptive security investment program operated by his firm. The EFCC cited violations of Section 1(1)(a) and Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006. Notably, Olaniyan was accused of failing to fulfill promised returns on investment, victimizing investors and accumulating substantial illicit gains.

The charges included instances such as obtaining N1,540,000 from an individual with the false promise of a 30% return on investment within six weeks. Another charge involved the fraudulent collection of N170,000 with a similar deceptive representation.

Despite pleading "not guilty," Olaniyan faced a thorough prosecution led by EFCC counsel Sanusi Galadanchi. The prosecution presented six witnesses and eight exhibits during the case, which concluded on January 24, 2023. In response, the defendant filed a "no case submission," which the court overruled.

On judgment day, Judge Taiwo convicted and sentenced Olaniyan to 15 years imprisonment on each of five counts but acquitted him on 30 other counts. The court ordered the sentences to run concurrently, resulting in a 15-year prison term for Olaniyan. Additionally, the judge mandated restitution to the victims, marking a decisive outcome in the legal proceedings.