Benjamin Okenna Ikaa, has been sentenced to five years imprisonment by Justice Emeka Nwite of the Federal High Court, Abuja, over $1.6million cryptocurrency investment fraud. Mr. Ikaa who owns a cryptocurrency website; www.mchaeveycapital.com pleaded guilty to one count amended charge leveled against him by the Economic and Financial Crimes Commission (EFCC).
The charge read;
“That you, Benjamin Okenna Ikaa (Alias George; Gavrilovich; P Aleksandra; Aaron Grifin), Chidera Jonas (at large) and Ikaa Ejike Benjamin (at large) on or about 20th December, 2022 at Ugbowa Abakpa-Nike, Enugu, Enugu State, within the jurisdiction of this Honourable Court with intent to defraud, did send electronic messages which materially misrepresent facts in your website, www.mchaeveycapital.com about crypto currency investment to a Monica Garcia upon which she relied and suffered financial loss in the sum of $120,000.00 (One Hundred Twenty Thousand US Dollars only) and thereby committed an offence contrary to and punishable under Section 14(2) of the Cybercrime (Prohibition Prevention etc.) Act 2015.” In view of his plea, prosecuting counsel, Aso Larrys Peter prayed the court to convict him as charged. However, defence counsel, Abel Adaji, pleaded with the court to temper justice with mercy, stating that the convict has become remorseful and was a first -time offender.