Gavice Logistics Boss Nabbed by EFCC for Alleged Ponzi Scheme

The Economic and Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly defrauding investors of N2 billion through a purported logistics investment scheme.

Investigations by the EFCC revealed that Tochukwu solicited funds from more than 400 investors, offering elaborate investment plans in haulage, courier, and e-commerce services, and promising unusually high returns of up to 50 percent. Since November 2024, many investors reportedly could not access their capital or returns, raising suspicions of a Ponzi scheme.

Tochukwu was subsequently apprehended by EFCC operatives and is currently undergoing questioning over the alleged fraud.

The commission has cautioned the public to exercise extreme vigilance when approached with investment opportunities, particularly those promising guaranteed high returns. EFCC stressed that Nigerians should avoid unverified platforms and schemes, which often result in significant financial losses.

The arrest underscores ongoing efforts by the EFCC to tackle investment-related fraud and protect the public from financial exploitation.