The Federal Capital Territory (FCT) High Court sitting in Jabi, Abuja has convicted and sentenced Praise Humphrey Igbo (a.k.a) Jessica Allen to one year imprisonment for fraud amounting to $115,000.
The court's decision shows the ongoing battle against internet fraud and cryptocurrency scams.
The Economic and Financial Crimes Commission (EFCC) prosecuted Igbo on charges of internet crime and criminal impersonation.
According to the prosecution, Igbo masqueraded as Jessica Allen, a purportedly successful cryptocurrency trader based in the United States.
Through this false identity, he convinced Aaron Bakker, an American investor, to invest in a fraudulent opportunity on Blockchain.com.
During the court proceedings, Igbo pleaded guilty to the charges. Justice H.L. Abba-Aliyu, presiding over the case, stated, "The convict, with intent to defraud, did cheat by pretending to be one Jessica Allen, thereby fraudulently obtaining 5.26 Bitcoins worth One Hundred and Fifteen Thousand United States Dollars ($115,000) by false pretence."
In addition to the prison sentence, Igbo was given the option to pay a fine of one million naira (N1,000,000) as an alternative to serving the full term.
Furthermore, the court ordered that $16,110 and $67,487.79 worth of cryptocurrency recovered from Igbo be used to compensate the victim through the American Embassy.
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