EFCC Smashes ₦2bn Ponzi Empire, Arrests Gavice Logistics Boss

The Economic and Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly running a fraudulent investment scheme that defrauded unsuspecting investors of over ₦2 billion.

According to EFCC investigators, Tochukwu lured investors with promises of 50 percent returns on investment (ROI) through supposed haulage, courier, and e-commerce ventures under his company, Gavice Logistics.

The EFCC, in a statement on Wednesday by Dele Oyewale, said his scheme reportedly attracted more than 400 investors nationwide.

However, by November 2024, the investors could no longer access their capital or returns, as Tochukwu allegedly absconded with the funds.

EFCC operatives later tracked him down and arrested him, with interrogations currently ongoing to unravel the full extent of his operations.

The Commission has advised members of the public to exercise caution and avoid patronising unverified pyramid or Ponzi schemes, which continue to cause massive financial losses to Nigerians.

It further warned that promoters of such fraudulent ventures would be prosecuted in accordance with the law.