The Federal High Court in Port Harcourt, Rivers State, has convicted and sentenced a Ponzi scheme operator, Umoren Edet, to seven years imprisonment for obtaining money under false pretence and issuance of dud cheques.
He was said to have fraudulently defrauded a woman of N7 million through a fraudulent Bitcoin deal.
A statement by the spokesperson for the Economic and Financial Crimes Commission (EFCC), Wilson Uwujaren, said Mr Edet was jailed on Friday, June 18, 2021.
The judge, A.T. Mohammed, convicted him after he pleaded guilty to one count of advance fee fraud and ordered him to refund the N7 million proceeds of the crime, the statement added.
According to the EFCC, Mr Edet was originally arraigned on Thursday, June 28, 2018 on the same one- count charge and he pleaded “not guilty” to the charge, leading to a trial that lasted three years.
“Specifically, Edet collected a sum…