The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Gavice Logistics Limited, Ahamba Tochukwu, for allegedly running a Ponzi scheme that defrauded hundreds of investors of about N2 billion.
According to the EFCC, Tochukwu lured investors with elaborate plans in haulage, courier, and e-commerce services, promising mouth-watering returns of up to 50 percent on their investments.
Investigations revealed that more than 400 investors were swindled, as many could no longer access their capital or the promised returns.
The suspect reportedly went into hiding in November 2024 after amassing over N2 billion through the scheme, until operatives of the Commission tracked him down.
The EFCC said Tochukwu is currently in custody and undergoing interrogation.
The Commission also warned Nigerians to be cautious of patronising unverified investment schemes and pyramid structures, stressing that fraudsters often disguise under attractive returns to dupe unsuspecting members of the public.
EFCC’s Head of Media and Publicity, Dele Oyewale, confirmed the arrest in a statement on Wednesday, September 3, 2025.
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