20-year-old man sentenced for cryptocurrency fraud


A Federal High Court sitting in Makurdi, Benue state, has sentenced a 20-year-old man Victor Chinemerem Ogaraku, for cryptocurrency fraud.

The 20-year-old was prosecuted by the Economic and Financial Crimes Commission Makurdi Zonal Office on a one-count charge that borders on obtaining by false pretense before Justice Mobolaji Olajuwon of the court.

“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,” the charge read.

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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 sentenced the defendant to a fine of N50,000.00 (Fifty Thousand Naira) or six (6) months imprisonment.

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

Meanwhile the EFCC has arraigned Lukman Sani Waziri, a former accountant of the Usmanu Danfodio University Teaching Hospital Sokoto, for a N245.9 million fraud.

Waziri was arraigned before Justice Malami Dogondaji of the Sokoto State High Court, Sokoto but the case could not proceed today as planned due to a motion for the enforcement of fundamental human rights filed by the defendant.

He was to be arraigned on one count charge bordering on obtaining by false pretence and fraud to the tune of N249,984,847.62 (Two Hundred and Forty-nine Million, Nine Hundred and Eighty-four Thousand Eight Hundred and Forty-seven Naira, Sixty-two Kobo) from the Federal Government of Nigeria through the Integrated Personnel Payroll Information System (IPPIS) and Government Integrated Financial Management Information System (GIFMIS) platforms, while he worked as accountant with the Finance Department of Usmanu Danfodio University Teaching Hospital Sokoto.