Amos Olaniyan (a.k.a. Crime Alert) and his company, Detorrid Heritage Investment Limited, were charged by the Economic and Financial Crimes Commission (EFCC) on Wednesday.
Olaniyan was charged with 35 counts before Justice Uche Agomoh of the Federal High Court in Ibadan, Oyo State.
He is accused of conspiring, running other financial institutions’ businesses, and receiving N35,000,000 under false pretenses.
Olaniyan was arrested in May after petitions alleging that he exploited his Crime Alert Security Network Investment to defraud customers by promising a monthly 30 percent return.
The offense was in violation of section 58(1) of the Banks and Other Financial Institutions Act, Cap B3 Laws of the Federation of Nigeria, 2004, and was penalized under sections 59(6) (a and b).
According to one of the accusations, the defendant received N15,000,000 from Fadipe Babajide Ayorinde on September 29, 2020 in Ibadan.
This was after the money was claimed to be for registration, investment, and a 30 percent profit.
The offence was in violation of section 1 (I)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2016 and was penalized under section (3).
The allegations were brought against Olaniyan, and he pled “not guilty.” Galadanchi Sanusi, the prosecutor’s lawyer, urged the court to remand him in the Nigerian Correctional Service (NCoS) and set a trial date.
Richard A. Ogunwole (SAN), counsel for the defendants, informed the court that he had submitted a bail application.
However, Justice Agomoh concluded that the matter was not ready for hearing and delayed it until October 25.
Olaniyan was remanded to the NCoS facility in Abolongo, Oyo, by Agomoh.