Crime & SecurityInvestingNewsFederal High Court Kano Jailed Two Binomo Investment Employees for Cryptocurrency Fraud

https://www.westafricanpilotnews.com/wp-content/uploads/2021/03/Fraud-Crytocurrency-Binomo-Investment-Employees-3-26-21-1280x853.jpg

The Federal High Court sitting in Kano on Thursday convicted one Okungbowa Collins and Florence Omorodion accused of obtaining money by false pretense.

The Economic and Financial Crimes Commission EFCC has charged the convicts before the federal High Court, Kano on separate counts of obtaining money by false pretense.

Okungbowa Collins is to restitute the sum of N420,000 to his victims, while Omorodion was ordered to restitute her victim the sum of N218,000.

They allegedly used their company, Binomo Investment to fraudulently obtain money from innocent victims under the pretext that Binomo is into Cryptocurrency business.

Justice Lewis Allagoa sentenced each to restitution of the total sum of monies in their respective charge.

Both convicts were also sentenced to pay a fine of N50, 000 each.

The charge reads “You Okungbowa Collins E. on or about November and December 2019 at Kano within the jurisdiction of the Federal High Court, did commit an unlawful act to wit; conducted series of financial transactions on behalf of one Osarunwense in the sum N420,000 which in fact involved the proceeds of an unlawful activity of the said Osarunwense and you thereby committed an offense contrary to and punishable under section 17 (b) of the Economic and Financial Crimes Commission (Establishment) Act 2004.

“You Florence Omorodion on or about October and  November 2019 at Kano within the jurisdiction of the Federal High Court, did commit an unlawful act to wit; conducted series of financial transactions on behalf of one Destiny Omorodion in the sum N218,000 which in fact involved the proceeds of an unlawful activity of the said Destiny Omorodion and you thereby committed an offense contrary to and punishable under section 17 (b) of the Economic and Financial Crimes Commission (Establishment) Act 2004”.

The defendants pleaded ‘’guilty’’ to the charges.

Prosecution counsel, Micheal Ojo asked the court to convict the defendants in line with their pleas.

Counsels for the defendants, Tohwo Oseruvwoja and Felix E. Nnana both pleaded with the court to temper justice with mercy in sentencing the defendants.

Attachments area
Hassan Umar Shallpella (Regional Correspondent)

Leave a Reply

Your email address will not be published. Required fields are marked *

WP2Social Auto Publish Powered By : XYZScripts.com