Cryptocurrency fraudster

Court Nails $5,576 Cryptocurrency Fraudster

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The Economic and Financial Crimes Commission, EFCC, on Monday, March 27, 2023, secured the conviction of one Moses Upkonahusi for $5,576  fraud.

He was first arraigned by the EFCC before Justice Mohammed Zubair of the Federal Capital Territory, FCT, High Court, Jikwoyi, Abuja, on a one count charge bordering on cheating by impersonation.

The count reads: “That you, Moses Ukponahusi, Male, sometime in December, 2021 at Abuja within the jurisdiction of this Honourable Court did cheat by personation when you fraudulently created a fake investment website named, posed as chief Executive Officer of CRPTO INFINITE TRADE by which you obtained a total Bitcoin value of 0.11088059 worth the sum of Five Thousand, Four Hundred and Twenty Four Dollars, Twenty-nine Cents ($5,424.29USD) from Adam Murah, an Australian and you thereby committed an offence contrary to Section 321 of the Penal Code Act, LFN, 2004 and Punishable Under Section 324 of the Same Act.”

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Upkonahusi pleaded guilty to the charge.

The judge convicted the defendant and sentenced to one year imprisonment with an option of N300, 000(Three Hundred thousand Naira) fine.

The court also directed that the recovered sum ($5,576.9USD) be paid to the victim through the Australian High Commission in Nigeria.

The convict was arrested28 May, 2022 after an Australian, Adam Murad, petitioned the Commission, alleging that the he fell victim to a cryptocurrency investment fraud scheme that had promised him a huge return on investment but lost a cumulative sum of 0.1108859 BTC estimated to be worth $5,576.05, to the scammer in December, 2021.

Aka Ekene, PBA Journalism Mentee
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