An Edo state high court sitting in Benin city on Monday, March 23, sentenced a man, Osamudiamen Philip Ikilo, to two years imprisonment over a $19,400 cryptocurrency fraud.
Ikilo was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice W.I. Aziegbemhin on a one-count charge of stealing.
He initially pleaded not guilty, prompting a full trial.
The charge stated that in March 2024, Ikilo stole bitcoin worth $19,400 (0.52092582 BTC) belonging to Cynthia Imade Alile by fraudulently converting the sum for his personal use.
The offence contravenes section 287 of the Edo state criminal law 2022, and is punishable under section 294 of the same law.
During the trial, prosecution counsel A. S. Bala-Ribah presented two witnesses and tendered documentary evidence, all of which were admitted by the court.
The defendant also called two witnesses, including himself.
Justice Aziegbemhin found Ikilo guilty as charged and sentenced him to two years imprisonment without an option of fine.
Comments