By Dipo Olowookere
A 20-year-old resident of Benue State known as Mr Victor Chinemerem Ogaraku has been convicted by a court in the state for cryptocurrency fraud.
Mr Ogaraku’s journey to his conviction officially started when the Economic and Financial Crimes Commission (EFCC) arraigned him before Justice Mobolaji Olajuwon of the Federal High Court sitting in Makurdi, Benue State.
He was brought before the judge by the zonal office of the anti-money laundering in Makurdi, the capital of Benue State, on a one-count charge bordering on obtaining by false pretence.
He was accused of defrauding his victim, one Otokpa Joseph Orinya, of the sum of N257,500 as payment for the purchase of a cryptocurrency.
According to the prosecuting counsel, Mr George Chia-Yakua, Mr Ogaraku knew that he had no digital currency to sell to his victim, but went ahead to collect the money from him, an offence he said was contrary to Section 1 (1)(a) and punishable under Section 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
“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 count read.
When the charge was read to him, the defendant pleaded guilty and Mr Chia-Yakua, thereafter, asked the court to convict him accordingly.
At the court on Tuesday, March 9, 2021, Justice Olajuwon pronounced Mr Ogaraku guilty and subsequently convicted and sentenced him to a fine of N50,000 or six months imprisonment.
He was also ordered to pay the sum of N257,500 to his victim as restitution.
