Court sentences fraudsters to 2 years in prison for $5,000 bitcoin fraud

Justice Olalekan Ijelu delivered the judgement after reviewing the facts presented by the Economic and Financial Crimes Commission (EFCC).

Ijelu gave Lawal an option of a ₦1 million fine to be paid within 30 days or be jailed for two years.

Also, the judge ruled that Damilola had the option to pay the sum of ₦1 million within 30 days or face a two-year sentence, and render 200 hours of community service at a place to be determined by the correctional centre.

Ijelu, while delivering the separate judgements, expressed displeasure with the involvement of the defendants in internet fraud activities, stating that they were causing pain and suffering to their victims.

He added that the convicts must write an undertaking with the EFCC, and promise never to go back to crime.

The News Agency of Nigeria (NAN) reports that Spiff Owede, EFCC prosecutor, told the court that Lawal was brought on a two-count charge bordering on possession of fraudulent documents and false pretence.

The defendant had pleaded guilty to the charge.

Owede said the chats retrieved from the iPhone X of the defendant revealed that he presented himself as an American woman with the intent to defraud unsuspecting victims.

The prosecution told the court that the defendant had shown remorse by forfeiting an iPhone X and depositing a Fidelity Bank manager’s cheque of N100,000 issued to the EFCC funds recovery account.

The defendant pleaded with the court to forgive him and promised never to return to the crime; he informed the court that he had gone back to his tailoring job.

On his part, Damilola was also brought on a two-count charge bordering on possession of fraudulent documents and cheating and pleaded guilty to the charges.

Owede said Damilola, who had many Instagram accounts, presented himself as a Bitcoin investment expert and defrauded one woman identified as Debbie of 5,000 dollars.

The defendant had told unsuspecting victims that he would guide them to make a profit of 5,000 dollars if they invested in Bitcoin, that he would request a fee and then block the victim after the payment had been made.

Owede said Damilola told the commission that he had made a total of 1,000 dollars from the act of cheating.

He told the court that the defendant had raised a First Bank manager’s cheque of N500,000 to the EFCC funds recovery account and forfeited an iPhone 13 pro max to the commission.

The prosecution said the defendants were arrested based on intelligence received on their hideouts at different locations in Lagos State.

Damilola said he was sorry and would never go back to crime, and that he hid his fraudulent activities from his parents until he was caught.

NAN reports that the offences contravened Sections 318 and 323 Criminal Laws of Lagos State 2011.