The Economic and Financial Crimes Commission (EFCC) has arrested the Chief Executive Officer of Gavice Logistics Limited, Mr Ahamba Tochukwu, for allegedly defrauding investors of more than ₦2 billion through a suspected Ponzi scheme.
According to the EFCC Spokesman, Dele Oyewale, Tochukwu lured over 400 investors into funding elaborate logistics ventures covering haulage, courier, and e-commerce services, promising a 50 percent return on investment.
Investigations revealed that he collected the funds but defaulted on payments, Oyewale said.
Since November 2024, he allegedly disappeared with investors’ money, leaving them unable to access either their capital or promised returns.
He was eventually tracked down and arrested by EFCC operatives, who are currently interrogating him over the allegations.
“Tochukwu, through Gavice Logistics Limited, rolled out elaborate investment plans spanning haulage, courier, and e-commerce services and dangled fifty percent Returns on Investment, ROI, to his investors.
“Investigations showed that he raked in more than ₦2 billion from 400 investors who could no longer access their capital and ROI owing to the fact that Tochukwu, since November 2024, disappeared into thin air with his investors’ funds.
“He was however caught by EFCC’s gallant operatives who are busy grilling him on his alleged fraudulent Ponzi scheme.
“With his arrest, members of the public are enjoined to desist from patronising unverified pyramid schemes and fraudulent investment promoters to avoid being defrauded,” Oyewale said