Cars seized from him
How a Smart Alec Used Radio Stations in Ibadan to Dupe People of N1Billion via a PONZI Scheme
By Adegbenro Adebanjo
Ibadan-based Amos Olugbenga Olaniyan played ‘Layipo’ for some people in Ibadan ,Oyo State. Through the airwaves of popular Radio stations he unfolded the plan of his company, Crime Alert Security Network Investment, to create safety for the people .
That was how he started .He sold his dummy through marketing a security configured scheme and everyday on a particular radio station, he kept the people abreast of how they could be secured using his crime Alert devices.
That was from 2020. To further convince his victims , the first set of investors funds were used to purchase branded CRIME ALERT official vehicles, some complete with security gadgets. He also set up offices in some parts of Ibadan and recruited canvassers who made the rounds of homes, markets and offices and other public places spreading the false gospel of Crime Alert.
And after gaining the confidence of the people he switched to his main Ponzi scheme claiming that the people should invest and become wealthy in CRIME ALERT Investment schemes . Som what began as a security centred company had transformed into an Investment Outfit promising 30% monthly return on Investment.
He said many milionaires would be made in Ibadanland. And since the Radio Station he was canvassing for investors from was still telling the people that they only allowed those with credible ventures to advertise their products and services, Olaniyan became the toast of many aspiring millionaires. They were simply rushing him and the millions were rolling in from people who were expecting 30% RoI monthly on the money they were throwing at Olaniyan.
To be sure The believability of Olaniyan’s Ponzi scheme was enhanced by the popularity of the Radio Station, owned by a Popular musician,and the claim that only credible schemes could be aired on the Station.
As the money started rolling in Olaniyan was living like a millionaire. He bought cars , houses and lands. By the last count over N1 Billion of people’s hard earned money had disappeared into CRIME ALERT PURSE.
Of course Olaniyan was CRIME Alert, Crime Alert was Olaniyan. He changed cars and continued to live like a king while the investors waited endlessly for the phantom return on investments.
Of course Crime Alert was a bogus company set up to commit financial crime against unwary investors.
So when it was time to reap from their investments , they waited and waited . The promised profit was not forthcoming and when they asked for the money they invested , Olaniyan disappeared.
The people ,some wailing , some with high blood pressure, headed to the office of the Economic and Financial Crimes Commission, EFCC.
After painstaking investigation, Olaniyan was nabbed and some of the property he bought with his clients money was recovered . He was bundled by the EFCC before an Oyo State High Court to answer to various charges of financial malfeasance.
The Economic and Financial Crimes Commission has won some battles against Olaniyan who has been convicted and given over 100 years prison term.
The latest of his conviction was by Justice Olusola Adetujoye of the Oyo State High Court who on Monday, April 28, 2025 convicted and sentenced Olaniyan Gbenga Amos to sixty-three (63) years jail term for multiple investment fraud.
He was convicted alongside his firm, Detorrid Heritage Investment Limited. They were prosecuted on 30-count charges by Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, bordering on obtaining by false pretences, an offence contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
Count 21 of the various charges against Olaniyan brought the PONZI Scheme he actualised through CRIME ALERT into perspective: “That you Olaniyan Gbenga Amos and Detorrid Heritage Investment Limited on or about 18th of June, 2020, at Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud obtained the sum of N995, 000.00 (Nine Hundred and Ninety-five Thousand Naira) only from Bada Titilope, 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% return on Investment in 6 weeks (30 working days), which representations you knew to be false and thereby committed an offence of Obtaining Money under false pretence contrary to Section 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.”
Olaniyan was earlier convicted and sentenced to seventy-five (75) years imprisonment by Justice Bayo Taiwo of the Oyo State High Court, Ibadan for similar offence on December 14, 2023.
Olaniyan May still bag many more years from his fraud schemes . He has two other ongoing trials before Federal High Courts in Ibadan, Oyo State for offences relating to fraud and obtaining money running into millions of Naira under false pretense from members of the public in Ibadan area and its environs.
All the PONZI Schemes were promoted via radio Stations and dedicated programs.
Post Script : The National Broadcasting Commission should stop Radio Stations from selling air times to Ponzi scheme fraudsters masquerading as investment experts.
– Adebanjo is a former editor of TELL Magazine
…He wrote this in the public interest.,
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