Friday, September 17, 2021

Court convicts 20-year-old for Cryptocurrency fraud in Benue

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The Economic and Financial Crimes Commission, EFCC, has secured the conviction of one Victor Chinemerem-Ogaraku for cryptocurrency fraud in Makurdi, Benue State.

The EFCC spokesman, Wilson Uwujaren disclosed this in a statement issued on Tuesday.

According to the spokesman, the 20-year-old convict who pleaded guilty was prosecuted on a one count charge that borders on obtaining by false pretense.

Mr Uwujaren revealed that Justice Olajuwon of the Benue State Federal High Court sentenced him to pay a fine of N50, 000.00 or six months imprisonment.

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“He also ordered the convict to pay the sum of Two hundred and Fifty-seven Thousand Five Hundred Naira (N257, 500.00) to his victim as restitution,” he added.

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The charge read: “That you Victor Chinemerem Ogaraku, sometime in November 2020 in Makurdi, with intent to defraud, did obtain the aggregate sum of N257, 500 from one Otokpa Joseph Orinya as payment for cryptocurrency under the pretense that you had the same for sale and thereby committed an offence contrary to Section 1 (1)(a) and punishable under Section 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.”

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