Nigerian jailed for defrauding American of $115,000 in bitcoin scam

The Federal Capital Territory (FCT) High Court in Jabi, Abuja, has sentenced Praise Humphrey Igbo, also known as Jessica Allen, on Wednesday to one year in prison for defrauding an American for fraud.

The conviction followed a one-count charge brought against him by the Economic and Financial Crimes Commission (EFCC), including internet fraud, criminal impersonation, obtaining money under false pretences, and money laundering.

Igbo defrauded an American victim, Aaron Baker, of $115,000 worth of Bitcoin by impersonating “Jessica Allen,” a fictional cryptocurrency trader.

According to EFCC, Igbo, disguised as Jessica Allen, lured Baker into investing in a fake cryptocurrency opportunity in 2022.

The charge stated that Igbo fraudulently obtained 5.26 bitcoins worth $115,000 by false pretences.

Igbo charge read: “That you, Praise Humphrey Igbo sometime in 2022 in Abuja within the jurisdiction of this honorable court, with intent to defraud, did cheat by pretending to be one Jesisca Allen, a successful crypto currency trader in the United State of America and in that assumed character, fraudulently obtained 5.26 Bitcoins worth One Hundred and Fifteen Thousand United State Dollars ($115,000) by false pretence, property of Aaron Baker, thereby committed an offence contrary to Section 321 of the Penal Code Act Abuja, Cap 532 LFN 2004 and punishable under Section 324 of the same Act.”

The victim, who is based in East Baton Rouge Parish, Louisiana, alleged that Igbo used the platform http://Blockchain.com to steal $115,000 worth of Bitcoin from him after presenting an investment opportunity to him, which turned out to be fake.

Igbo pleaded “guilty” to the charge when it was read to him, upon which prosecution counsel M.K. Hussain prayed the court to convict and sentence him accordingly.

Justice Abba-Aliyu convicted and sentenced him to one year imprisonment or to pay a fine of one million naira (N1,000,000).

The court also ordered that $16,110 and $67,487.79 worth of cryptocurrency recovered from Igbo, along with funds in his bank account, be used to compensate the victim through the American Embassy.