Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Ahamba Tochukwu, the Chief Executive Officer of Gavice Logistics Limited, for allegedly running a Ponzi scheme that defrauded investors of over ₦2 billion.
EFCC spokesperson Dele Oyewale confirmed the arrest, stating that Tochukwu lured over 400 investors through elaborate investment plans in haulage, courier, and e-commerce services, promising a 50% return on investment (ROI).
Investigations revealed that Tochukwu collected more than ₦2 billion from investors, who have since lost access to their capital and expected returns. According to the EFCC, the fraudster disappeared in November 2024, leaving victims in financial distress.
EFCC operatives tracked and arrested Tochukwu, who is now in custody and being interrogated for his role in the fraudulent investment scheme.
With the arrest, the EFCC has issued a public warning, urging Nigerians to be cautious and avoid unverified investment platforms and pyramid schemes that promise unrealistically high returns.
The case is part of ongoing efforts to clamp down on rising financial fraud cases across the country.
