The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Gavice Logistics Limited, Ahamba Tochukwu, for allegedly operating a fraudulent investment scheme that defrauded investors of more than ₦2 billion.
According to a statement by the Commission’s spokesperson, Dele Oyewale, Tochukwu allegedly lured over 400 investors nationwide with promises of a 50 per cent return on investment through purported haulage, courier, and e-commerce businesses.
The EFCC said trouble started in November 2024 when investors could no longer access their funds or returns, after which Tochukwu allegedly went into hiding. He was later tracked and arrested by operatives of the Commission.
The anti-graft agency confirmed that interrogations are ongoing to determine the scale of the scheme and recover proceeds of the alleged fraud.
The EFCC also cautioned Nigerians against patronising unverified Ponzi or pyramid schemes, warning that promoters of such ventures would face prosecution in line with the law.
