COURT JAILS TWO FOR N14.8M FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Two for N14.8m Fraud in Maiduguri Justice B.T Zannah of the Borno State High Court sitting in Maiduguri, on Monday, July 13, 2026 convicted and sentenced two to three years imprisonment. The convicts are: Babagana Bukar and Hauwa Chabri.  The convicts were arraigned on Monday, July 13, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a separate one -count charge for the offence of criminal misappropriation to the tune of N14,800,000.00 (Fourteen  Million, Eight Hundred Thousand Naira). The charge against Bukar reads: "That you, Babagana Bukar sometimes in 2025 at Maiduguri, Borno State within the jurisdiction of this honourable court, dishonestly misappropriated and converted to your own use the aggregate sum of N8,800,000.00 (Eight Million, Eight Hundred Thousand Naira)  money belonging to Bunu Gambo Liman, being amount given to you through Babakura Umar and Bello Adamu for the supplies of 100 bags of IRS...
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$382,000 FRAUD: HOW SUSPECTED FRAUDSTER DUPED HIS VICTIMS FROM 13 COUNTRIES IN A BITCOINS SCAM. (PHOTO).#PRESS RELEASE.

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$382,000 Fraud:  How Suspected Fraudster duped his victims from 13 Countries in a Bitcoins Scam


A 1st prosecution witness in the trial  of Eze Harrison Arinze,     has told  Justice J. K. Omotosho of the Federal High Court sitting in  Abuja,  how Arinze received $382,000 (Three Hundred and Eighty Two Thousand United States Dollars) worth of bitcoins from his victims before his account was blocked by his Virtual Asset Service Provider , VASP.

The witness,  Ogunjobi Olalekan,  an officer of the Economic and Financial Crimes Commission, EFCC, told the court that Arinze’s victims were deceived into withdrawing their funds and deposited them into Arinze’s bitcoin accounts, thinking that they were transacting legitimate businesses.

 Arinze was arraigned on March 22, 2023, before Justice Omotosho, on five count charges bordering on obtaining by false pretence and money laundering to the tune of  $769,263 (Seven Hundred and Sixty Nine  Thousand,  Two Hundred  and Sixty Three United States Dollars).

 He pleaded not guilty to the charges when they were read to him.

At the resumed trial of the case,  Olalekan told the court that:  

“We requested for users on the platform who have deposited crypto currency to the defendant’s account and their names were provided. About thirty persons on the platforms deposited various sums of bitcoin to the defendant's  account”.

Continuing,  he explained that:  “those that were identified were from thirteen different countries- the total inflow to his bitcoin wallet address based on the response was about 15.5btc valued around $382,000 (Three Hundred and Eighty Two United States Dollars and the defendant has withdrawn about 5btc before it was blocked.”

“We got the information of these users who deposited the funds, showing their user identities, location, money deposited at different intervals,  wallet addresses where these funds were sent to at different intervals”, he said.  He further stated that other vital information like “the amount they sent, dollar equivalent,  email addresses of depositors,  transaction identities”, were also disclosed.

Olalekan told the court that 28 out of the 30 depositors were reached  through  their email addresses to establish the purpose of the various sums they  deposited in the defendant’s  account and what they knew about   “Swiss-Coin, Swiss earning, Swiss coins and Digitrades ltd.”

 After listening to the witness testimony, Justice Omotosho adjourned the matter for continuation to June 14, 2023 and ordered the remand of the defendant in Kuje Correctional Centre.



 

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