The Economic and Financial Crimes Commission (EFCC) has apprehended Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly orchestrating a N2 billion investment scam that defrauded over 400 investors.
The arrest, announced via an EFCC statement on X, follows a months-long manhunt after Tochukwu reportedly vanished with investors’ funds in November 2024.
Tochukwu is accused of luring victims with promises of up to 50% returns on investment through elaborate schemes in haulage, courier, and e-commerce services under Gavice Logistics Limited.
The EFCC described the operation as a Ponzi-style fraud, with investigations revealing that more than 400 investors were unable to access their capital or promised profits after Tochukwu allegedly absconded.
The total amount defrauded is estimated at N2 billion (approximately $1.2 million USD).According to the EFCC, operatives tracked down and arrested Tochukwu, who is now undergoing interrogation to uncover the full scope of the alleged scam.
The Commission’s statement emphasized the risks of unverified investment schemes, urging the public to avoid fraudulent promoters.
“With his arrest, members of the public are enjoined to desist from patronising unverified pyramid schemes to avoid being defrauded,” the statement read.
The case has sparked widespread concern, highlighting the dangers of Ponzi schemes in Nigeria’s investment landscape.
The EFCC has not disclosed further details on the recovery of funds or potential charges, but the arrest marks a significant step in addressing financial fraud.
Investors affected by the scam are advised to contact the EFCC for updates on the investigation.
As the probe continues, authorities are calling for greater vigilance to protect Nigerians from similar fraudulent schemes. Further updates are expected as the EFCC intensifies its efforts to combat economic crimes.
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