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WELL DESERVED!!!!Man Gets Five Years Jail For $1.6m Cryptocurrency Fraud
The Economic and Financial Crimes Commission (EFCC) has announced the conviction and sentencing of Benjamin Ikaa to five years imprisonment by Justice Emeka Nwite of the Federal High Court, Abuja.
Ikaa pleaded guilty to a one-count amended charge related to a $120,000.00 fraud involving a fictitious cryptocurrency investment website, part of a larger $1.6 million cryptocurrency fraud.
The prosecuting counsel, Aso Larrys Peter, urged the court to convict him as charged, while the defence counsel, Abel Adaji, requested leniency, showing the convict’s remorsefulness and first-time offender status.
The court, in its judgment, convicted and sentenced Ikaa to five years imprisonment with an option of a N5 million fine.
Additionally, he forfeited an iPhone 13 and a 2013 Toyota Avalon car to the Federal Government, and the $11,000 recovered from him will be returned to his victims.
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