20 Year Old Man Jailed For Cryptocurrency Fraud

The Economic and Financial Crimes Commission, EFCC, Makurdi
Zonal Office on Tuesday 9th March, 2021 secured the conviction of
one, Victor Chinemerem Ogaraku, for cryptocurrency fraud.

The 20-year-old was prosecuted by the Makurdi Zonal Office
before Justice Mobolaji Olajuwon of the Federal High Court sitting
in Makurdi, Benue State on one-count charge that borders on
obtaining by false pretence.

The charge reads: “That you, Victor Chinemerem Ogaraku, sometime
in November 2020, in Makurdi, within the jurisdiction of the
Honourable Court, with intent to defraud, did obtain the aggregate
sum of N257,500 from one Otokpa Joseph Orinya as payment for
cryptocurrency, under the pretence that you have same for sale,
which you knew was false 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″.

When the charge was read to him, the defendant pleaded ‘guilty’,
prompting the prosecuting counsel, George Chia-Yakua, to ask the
Court to convict him accordingly.

Justice Olajuwon pronounced him guilty and subsequently
convicted and sentenced him to a fine of N50, 000.00 (Fifty
Thousand Naira) or six (6) months imprisonment.

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

The Economic and Financial Crimes Commission, EFCC, Makurdi
Zonal Office on Tuesday 9th March, 2021 secured the conviction of
one, Victor Chinemerem Ogaraku, for cryptocurrency fraud.

The 20-year-old was prosecuted by the Makurdi Zonal Office
before Justice Mobolaji Olajuwon of the Federal High Court sitting
in Makurdi, Benue State on one-count charge that borders on
obtaining by false pretence.

The charge reads: “That you, Victor Chinemerem Ogaraku, sometime
in November 2020, in Makurdi, within the jurisdiction of the
Honourable Court, with intent to defraud, did obtain the aggregate
sum of N257,500 from one Otokpa Joseph Orinya as payment for
cryptocurrency, under the pretence that you have same for sale,
which you knew was false 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″.

When the charge was read to him, the defendant pleaded ‘guilty’,
prompting the prosecuting counsel, George Chia-Yakua, to ask the
Court to convict him accordingly.

Justice Olajuwon pronounced him guilty and subsequently
convicted and sentenced him to a fine of N50, 000.00 (Fifty
Thousand Naira) or six (6) months imprisonment.

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