" ITREALMS: Internet fraudster bags 1 month jail over N1.5m bitcoin scam

Friday, April 20, 2018

Internet fraudster bags 1 month jail over N1.5m bitcoin scam

The Enugu State High Court has sentenced an internet fraudster, Omokaro Osamudianmen Precious, to a one-month imprisonment over N1.5 million scam on Bitcoin trading, reports ITRealms.

Bitcoin, ITRealms gathered, is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.

The Economic and Financial Crimes Commission (EFCC), ITRealms recollects, had arraigned Omokaro Osamudianmen Precious, before the court on one count charge bordering of cheating and obtaining the amount under false pretences.

According to the Head of Media and Publicity, Mr Wilson Uwujaren, EFCC on Wednesday, accused Omokaro as posing as a genuine business man that deals in Bitcoin.

The anti-graft agency said Omokaro had promised the victim through her brother a 10 per cent interest on her capital investment within one month.

The presiding judge, EFCC said, ruled and ordered the fraudster to be jailed for committing the offence contrary to section 388 of CAP 30, Criminal Code Law, Enugu State and punishable under Section 388 of the same Law.

The count read, “That you, Omokaro Osamudianmen sometime in 2018, within the jurisdiction of the High Court of Enugu State, by means of fraudulent trick obtained the sum of N1,545,000.00 from one Ifunanya Afam Okonkwo, when you presented yourself to her as a genuine business man with a promise to pay her interest and return her capital within one month and thereby committed an offence.”

However, he pleaded guilty to the one count charge preferred against him by admitting to having committed the crime.

In view of the accused person’s plea, the prosecuting counsel Mbachie Innocent applied to review the facts of the matter presented by the prosecuting witness Abdulraman Babakano and urged the court to convict the accused.

The defense counsel, Kakaan Desmond on the other hand pleaded with his lordship to temper justice with mercy since the accused is a first offender and did not waste the court’s time by admitting to the crime.

Nenye Dom/ED, Ops with additional report by ChannelsTV

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