The Bitcoin fraudster was taken into custody following intelligence reports received by the Commission about the criminal activities of a syndicate of Internet fraudsters residing in the Lekki area of Lagos.
He was subsequently arraigned on a one-count amended charge bordering on possession of fraudulent documents containing false pretence.
He pleaded ‘guilty’ to the charge brought against him.
Consequently, the prosecution counsel, I. A. Mohammed, reviewed the facts of the case and also told the court about the plea bargain entered into by the defendant with the prosecution.
Delivering her judgment, Justice Taiwo convicted and sentenced the defendant to one year imprisonment, with an option of fine of N300,000 (Three Hundred Thousand Naira).
The Judge also held that the sum of N5,000,000.00 (Five Million Naira) recovered from the defendant be forfeited to the victim, Kaye, through the Federal Government
The Judge also ordered that the sum of N26, 620, 000 (Twenty-six Million, Six Hundred and Twenty Thousand Naira), being the remaining part of $104,500USD (One Hundred and Four Thousand, Five Hundred United States Dollars) fraudulently obtained by the convict from Kaye, be restituted through the Federal Government of Nigeria from the assets and property of the convict until the sum is fully recovered.
The convict was ordered to enter into a bond with the EFCC to be of good behaviour and never involve in any economic and financial crimes, illegitimate or criminal act within and outside the shores of the country, after his release from the Nigeria Correctional Service (NCS) facility.