A federal high court in Ibadan, the Oyo capital, has ordered the remand of Olaniyan Amos, owner of Detorrid Heritage Investment Limited (DHIL) popularly known as Crime Alert Security Network Investment, at a correctional centre in Oyo.
According to a statement issued on Wednesday by Wilson Uwujaren, spokesman of the Economic and Financial Crimes Commission (EFCC), Amos was arraigned before Uche Agomoh of the federal high court in Ibadan over alleged N35 million fraud.
The suspect, said to have been arraigned on Monday, allegedly collected the amount in various sums from people to invest in his company with the promise of 30 percent return on their investments.
“The defendant was arrested following petitions by victims alleging that Amos through his company, DHIL, popularly known as Crime Alert Security Network Investment, induced them to invest in a network scheme which offered a monthly 30 per cent returns on investment,” Uwujaren said.
One of the counts states that Amos and DHIL, “between August 2019 and May 2021 at Ibadan, without licence, operated business of other financial institutions and thereby committed an offence contrary to section 58(1) and punishable under section 59(6) (a and b) of the Banks and Other Financial Institutions Act, Cap B3 Laws of the Federation Nigeria, 2004”.
According to the EFCC, Amos is also accused of obtaining “the sum of N15 million from Fadipe Ayorinde, when you falsely represented to him that the money is meant for registration and investment with Crime Alert Security Network with a promise of 30 per cent return on investment in 6 weeks, which representation you knew to be false and thereby committed 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”.
After pleading not guilty to the charges, Galadanchi Sanusi, prosecution counsel, asked the court to remand the defendant at a correctional centre and fix a date for trial to commence.
Richard Ogunwole, the defence counsel, told the court that he has filed an application for the release of his client on bail.
However, the court ruled that the bail application was not ripe for hearing as the “further affidavit” filed by the defendant was not properly presented before the court.
The court ordered that the defendant be remanded at the Nigerian Correctional Centre in Abolongo, Oyo state, while the case has been adjourned till October 25 for hearing of the suspect’s bail application.