EFCC has arrested Ahamba Tochukwu, CEO of Gavice Logistics Limited, for allegedly defrauding 400 investors of ₦2bn through a Ponzi-style logistics investment scheme
EFCC Arrests Gavice Logistics CEO for Alleged ₦2bn Ponzi Fraud
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly masterminding a fraudulent investment scheme that defrauded investors of over ₦2 billion.
According to the EFCC, Tochukwu lured unsuspecting Nigerians into bogus haulage, courier, and e-commerce investment plans with promises of a 50 percent Return on Investment (ROI).
Investigations revealed that he raised more than ₦2 billion from at least 400 investors. However, since November 2024, investors were unable to access either their capital or returns after Tochukwu reportedly disappeared with the funds.
EFCC operatives eventually tracked him down, and he is currently being interrogated over what has been described as a “fraudulent Ponzi scheme.”
“With his arrest, members of the public are advised to desist from patronising unverified pyramid schemes and fraudulent investment promoters to avoid being defrauded,” the Commission cautioned in its statement.
The case underscores EFCC’s intensified crackdown on Ponzi-style investment schemes that have swindled Nigerians out of billions in recent years. Read More
