Nigerian Man Sentenced For $115,000 Bitcoin Fraud In Abuja

The Federal Capital Territory (FCT) High Court in Jabi, Abuja, has sentenced a Nigerian man, Praise Humphrey Igbo, alias Jessica Allen, to one year in prison for his involvement in a $115,000 Bitcoin scam.

Justice H.L. Abba-Aliyu issued the ruling on Wednesday, December 11, 2024. Igbo faced prosecution by the Economic and Financial Crimes Commission (EFCC) on charges of internet fraud, impersonation, obtaining funds under false pretenses, and money laundering.

According to EFCC spokesperson Dele Oyewale, Igbo conned an American citizen, Aaron Baker, by posing as “Jessica Allen,” a supposed cryptocurrency investment expert. The court heard that Igbo fraudulently acquired 5.26 Bitcoins valued at $115,000, violating Section 321 of the Penal Code Act Abuja, Cap 532 LFN 2004, and punishable under Section 324 of the same Act.

During his arraignment, Igbo admitted guilt. Following this, EFCC counsel M.K. Hussain urged the court to proceed with his conviction and sentencing.

Justice Abba-Aliyu handed down a one-year prison term but provided Igbo with an option to pay a ₦1 million fine. Additionally, the court ordered the confiscated funds—$16,110 in cash, $67,487.79 in cryptocurrency, and money from Igbo’s bank accounts—to be used to reimburse the victim through the American Embassy.

The case began after Baker, a U.S. resident from East Baton Rouge Parish, filed a petition with the EFCC. He accused Igbo of fraudulently promoting a fake cryptocurrency investment scheme on Blockchain.com.

EFCC reaffirmed its dedication to tackling cybercrime and ensuring justice for victims, with Oyewale emphasizing the agency’s zero-tolerance stance on internet fraud.