Man Sentenced to One Year in Jail for $115,000 Bitcoin Fraud

The Federal Capital Territory High Court in Jabi, Abuja, has sentenced an Internet fraudster, Praise Humphrey Igbo, also known as Jessica Allen, to one year imprisonment for defrauding an American citizen of $115,000 in Bitcoin.

Justice H.L. Abba-Aliyu delivered the verdict on Wednesday, finding Igbo guilty of charges brought against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC had arraigned Igbo on charges of internet fraud, criminal impersonation, obtaining money under false pretenses, and money laundering. Prosecution counsel M.K. Hussain informed the court that Igbo posed as “Jessica Allen,” a fake identity he created to impersonate a successful cryptocurrency trader based in the United States.

“In this fraudulent guise, the convict obtained 5.26 Bitcoins valued at $115,000 from Aaron Baker by false pretenses,” Hussain stated. He added that the crime was committed in 2022 in Abuja and violated Section 321 of the Penal Code Act Abuja, Cap 532 LFN 2004, which is punishable under Section 324 of the same Act.

Igbo pleaded guilty to the charge, prompting Hussain to urge the court to deliver an appropriate sentence.

Justice Abba-Aliyu subsequently sentenced Igbo to one year in prison, offering him the alternative of a fine of N1 million. The judge also ordered the restitution of the victim, directing that $16,110 and $67,487.79 worth of cryptocurrency recovered from Igbo, along with funds in his bank account, be returned to Aaron Baker through the American Embassy.

The EFCC revealed that the case came to light when a petitioner, East Baton Rouge Parish resident Aaron Baker, reported the scam. According to Baker, Igbo, posing as Jessica Allen, lured him into a fake cryptocurrency investment scheme on Blockchain.com, resulting in the loss of $115,000.

Igbo’s conviction underscores the court’s commitment to addressing the growing menace of internet fraud.