The Economic and Financial Crimes Commission, EFCC, arraigned Moses Upkonahusi over $5,576 cryptocurrency fraud perpetrated in Abuja before Justice Mohammed Zubair of the FCT High Court in Jikwoyi.
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The one-count charge of cheating by impersonation claimed that in December 2021, Moses created a fake investment website.
Posing as the Chief Executive Officer of Crypto Infinite Trade, he obtained a bitcoin value of 0.11088059 from Adam Murah, an Australian.
The offence violated Section 321 of the Penal Code Act, LFN, 2004 and is punishable under section 324 of the same Act..
After Moses pleaded guilty, the judge sentenced him to one-year imprisonment with an option of a N300,000 fine.
Also Read: Nigerian Crypto Traders Using Flutterwave For P2P Face Account Freezing.
The court also directed that the recovered $5,576 be paid to the victim through the Australian High Commission in Nigeria.
The convict was arrested on May 28, 2022, following Murad’s petition after falling for a cryptocurrency investment fraud scheme.
