The Economic and Financial Crimes Commission (EFCC) has arrested Mr. Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly defrauding hundreds of unsuspecting investors in a Ponzi-style logistics investment scheme valued at about ₦2 billion.
In a statement on Wednesday, the anti-graft agency disclosed that Tochukwu lured investors with promises of high returns through Gavice Logistics, which he claimed operated across haulage, courier, and e-commerce services.
“Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested Ahamba Tochukwu, Chief Executive Officer, Gavice Logistics Limited, for allegedly defrauding several investors in his logistics investment schemes to the tune of ₦2,000,000,000 (Two Billion Naira),” the commission said.
Preliminary investigations revealed that the suspect allegedly diverted funds for personal use instead of channeling them into the advertised ventures. The EFCC further noted that several victims had petitioned the agency after being unable to recover their capital or promised returns.
Tochukwu is currently in custody, assisting investigators with further details, and will be charged to court as soon as investigations are concluded.
The EFCC reiterated its warning to Nigerians to exercise caution and conduct due diligence before investing in schemes that promise unusually high returns.
