Ahamba Tochukwu Tarrence, the promoter of Gavice Logistics Limited is in custody of the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding investors of over ₦2 billion.
In a statement on Wednesday, the EFCC alleged that Tochukwu lured investors with promises of a 50 per cent return on investments in haulage, courier, and e-commerce services.
According to the commission’s spokesperson, Dele Oyewale, investigations revealed that more than 400 individuals put money into the scheme but were unable to recover their funds.
The EFCC said Ahamba Tochukwu Tarrence fled with the money in November 2024 before being traced and arrested. He is currently being interrogated over what the agency described as a Ponzi scheme.
“With his arrest, members of the public are advised to desist from patronising unverified pyramid schemes and fraudulent investment promoters in order to avoid being defrauded,” the EFCC said.
