The Economic and Financial Crimes Commission has arrested the Chief Executive Officer of Gavice Logistics Limited, Ahamba Tochukwu, for allegedly defrauding investors of over N2bn through a failed logistics investment scheme.
In a statement on Wednesday, the EFCC said Tochukwu, through his company, lured investors with promises of a 50 per cent return on investments in haulage, courier, and e-commerce services.
According to the commission’s spokesperson, Dele Oyewale, investigations revealed that more than 400 people invested in the scheme but have been unable to recover their funds.
The EFCC added that Tochukwu absconded with the money in November 2024 before being tracked down and arrested.
He is currently being interrogated over what the commission described as a Ponzi scheme.
The agency also warned Nigerians against falling for unverified investment platforms.
“With his arrest, members of the public are advised to desist from patronising unverified pyramid schemes and fraudulent investment promoters in order to avoid being defrauded,” the EFCC said.
