Court Jails Owner Of Cryptocurrency Investment Website | READ DETAILS
Court Jails Owner Of Cryptocurrency Investment Website | READ DETAILS
One Benjamin Okenna Ikaa, has been sentenced to five years imprisonment by Justice Emeka Nwite of the Federal High Court, Abuja, over $1.6million cryptocurrency investment fraud.
Ikaa who owns a cryptocurrency website; www.mchaeveycapital.com pleaded guilty to one count amended charge leveled against him by the Economic and Financial Crimes Commission (EFCC).
The charge read;
“That you, Benjamin Okenna Ikaa (Alias George; Gavrilovich; P Aleksandra; Aaron Grifin), Chidera Jonas (at large) and Ikaa Ejike Benjamin (at large) on or about 20th December, 2022 at Ugbowa Abakpa-Nike, Enugu, Enugu State, within the jurisdiction of this Honourable Court with intent to defraud, did send electronic messages which materially misrepresent facts in your website, www.mchaeveycapital.com about crypto currency investment to a Monica Garcia upon which she relied and suffered financial loss in the sum of $120,000.00 (One Hundred Twenty Thousand US Dollars only) and thereby committed an offence contrary to and punishable under Section 14(2) of the Cybercrime (Prohibition Prevention etc.) Act 2015.”
In view of his plea, prosecuting counsel, Aso Larrys Peter prayed the court to convict him as charged. However, defence counsel, Abel Adaji, pleaded with the court to temper justice with mercy, stating that the convict has become remorseful and was a first -time offender.
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Justice Nwite convicted and sentenced him to five years imprisonment with an option of fine of N5,000, 000( Five Million Naira only). Ikaa also forfeited an iPhone 13, a Toyota Avalon car, 2013 model to the Federal government.
The $11,000 recovered from him would be returned to his victims. He also wrote an undertaking to steer away from cyber crime henceforth.
Ikaa was arrested by the EFCC for operating a fictitious cryptocurrency investment website,
www.mcharveycapital.com where he promised mouth-watering returns on investment, resulting in his unsuspecting victims incurring a loss of 26 bitcoins as at February 2023.
According to the EFCC, Ikaa’s victims are from South Africa, Norway, United Kingdom and Barbados.
