Mkpoikana Udoma
Port Harcourt — The Economic and Financial Crimes Commission, EFCC, Benin Zonal Directorate, has secured the conviction of Osamudiamen Philip Ikilo for defrauding a victim of $19,400 worth of Bitcoin.
Ikilo was arraigned on a one-count charge of stealing before Justice W.I. Aziegbemhin of the Edo State High Court in Benin City. Upon arraignment, he pleaded not guilty, prompting a full trial.
The charge reads, “Osamudiamen Philip Ikilo, sometime in March 2024, within the jurisdiction of this Honourable Court, did steal Bitcoin worth the sum of $19,400 belonging to Cynthia Imade Alile by fraudulently converting the said sum to your own use, thereby committing an offence contrary to Section 287 of the Criminal Law of Edo State Law 2022 and punishable under Section 294 of the same Law.”
During the trial, the prosecution, led by A.S. Bala-Ribah, called two witnesses and tendered supporting documents, all of which were admitted by the court. The defense also called two witnesses, including the defendant himself.
Delivering judgment, Justice Aziegbemhin found Ikilo guilty and sentenced him to two years imprisonment without an option of fine.
EFCC stated that Ikilo’s conviction stemmed from his failure to remit 0.52092582 Bitcoin valued at $19,400 to the petitioner, despite offering to assist in converting it.
Instead, the convict converted the funds for personal use, prompting legal action.
