The Economic and Financial Crimes Commission (EFCC) has arrested Mr. Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly defrauding investors of more than ₦2 billion through a suspected Ponzi scheme.
According to EFCC spokesman Dele Oyewale, Tochukwu lured over 400 investors into funding logistics ventures that covered haulage, courier, and e-commerce services. He allegedly promised investors a staggering 50% return on investment (ROI).
Investigations revealed that while funds were collected, payments were never made. Since November 2024, Tochukwu reportedly disappeared with investors’ money, leaving victims unable to access either their capital or promised returns.
After months of tracking, EFCC operatives arrested Tochukwu, who is now being interrogated. Oyewale said:
“Tochukwu, through Gavice Logistics Limited, rolled out elaborate investment plans spanning haulage, courier, and e-commerce services and dangled fifty percent ROI to investors. Investigations showed that he raked in more than ₦2 billion from 400 investors, who could no longer access their funds when he disappeared in November 2024. He has now been apprehended by EFCC operatives and is currently being grilled.”
The EFCC further cautioned the public to avoid unverified pyramid and Ponzi schemes, stressing that many fraudulent investment platforms thrive by exploiting investors with unrealistic promises of high returns.
This arrest underscores the Commission’s ongoing efforts to crack down on financial crimes and protect Nigerians from fraudulent investment promoters.