The Gombe State High Court has sentenced a radiographer and investment and bitcoin guru to seven years in prison for defrauding his victim of N930,000.
EFCC spokesman Wilson Uwujaren, in a statement Wednesday, said the judge, BLIliya, on Tuesday convicted and sentenced the defendant to seven years in prison with no option of a fine.
The statement said Sunday Anyanfelowa was indicted on November 24, 2018 on one count of fraud.
The offense was said to be contrary to section 1 (1) and punishable under section 1 (3) of the entire Advance Fee Fraud and Other Fraud-Related Offenses Act of 2006.
Judgment
Anyanfeoluwa, in 2017, was said to misrepresent himself in a WhatsApp chat called “BIC Investment Giant” to be a bitcoin expert.
Thereafter, he convinced the petitioner to part with said sum for investment in bitcoins with the promise of high returns on investment in the victim’s e-wallet account.
The commission added that investigations also revealed that the defendant withdrew the money sent to him from a Point of Sale (POS) vendor and diverted the proceeds for personal use.
Cryptocurrencies are digital or virtual currencies like Bitcoin and Ethereum and others, which can be used to buy goods and services.
Last September, EFCC President Abdulrasheed Bawa had said that many criminals were playing a significant role in the cryptocurrency markets. He said that virtual currencies had become his preferred means of exchange.
The Central Bank of Nigeria (CBN) had banned commercial banks and other financial institutions from transacting cryptocurrencies for fear of the risks it poses to investments and the broader economy.