Justice W.I. Aziegbemhin of the Edo State High Court sitting in Benin City has sentenced Osamudiamen Philip Ikilo to two years imprisonment over $19,400 Bitcoin fraud.
In a late Wednesday statement on the official X handle of the Economic and Financial Crimes Commission (EFCC), Ikilo Ikilo was arraigned on a one-count charge of stealing and subsequently found guilty.
According to the statement, Ikilo was charged in court by the Benin Zonal Directorate of the anti-graft agency after a petition was filed alleging that the convicts stole Bitcoin worth $19,400 belonging to one Cynthia Imade Alile.
The charge reads, “That you Osamudiamen Philip Ikilo (m) sometime in March 2024 within the jurisdiction of this Honourable Court did steal Bitcoin worth the sum of $19,400 (Nineteen thousand, four Hundred United States Dollars) belonging to one Cynthia Imade Alile by fraudulently converting the said sum to your own use, and thereby committed an offence contrary to Section 287 of the Criminal Law of Edo State Law 2022 and punishable under Section 294 of the same Law.”
Upon arraignment, the defendant pleaded not guilty to the charge, setting the stage for trial.
EFCC revealed that in the course of the trial, prosecution counsel, A. S. Bala-Ribah, called two witnesses and also tendered documents which were admitted by the court.
On his part, the defendant called two witnesses, including himself.
Delivering judgment on Monday, Justice Aziegbemhin found the defendant guilty of the charge and sentenced him to two years’ imprisonment without an option of fine.
The anti-graft agency revealed that Ikilo’s legal troubles began when he offered to assist the petitioner convert her 0.52092582 Bitcoin worth $19,400, but failed to remit the money to the petitioner as he converted the same to his personal use.
