The Federal High Court sitting in Ikoyi, Lagos, has convicted a crypto trader identified as Lawrence Success Karinate for computer-related fraud, News About Nigeria reports.
According to a statement issued on Monday by the Economic and Financial Crimes Commission (EFCC), Karinate was convicted by Justice Nicholas Oweibo following prosecution by the EFCC Lagos Zonal Command.
The EFCC, in its statement, revealed that Karinate was prosecuted on a one-count charge bordering on cybercrimes, an offence contrary to and punishable under Section 22(2)(b) of the Cybercrimes (Prohibition etc.) Act, 2015.
According to the statement, Karinate defrauded people via his social media platform under the guise that he was a female with the name “Jessie Randall.”
“That you Lawrence Success Karinate, sometime in 2023, within the jurisdiction of this Honourable Court, with intent to defraud, fraudulently held out yourself on social media platforms, as a female, bearing the name “Jessie Randall”, a fashion influencer, to unsuspecting members of the public, with intent to gain advantage for yourself and you thereby committed an offence, contrary to and punishable under Section 22(2)(b) of the Cybercrimes (Prohibition etc.) Act, 2015,” the count read.
Karinate who pleaded “guilty” to the one-count charge against him expressed regret for his involvement in the criminal activity and assured the court that he would never engage in internet fraud again.
Following his plea, Justice Oweibo in his judgment sentenced him to a fine of N200,000.
The anti-graft commission also revealed that Karinate was arrested in the Lekki area of Lagos State on May 26, 2023.
Upon his arrest, the Commission discovered he was also involved in a pig-butchering scam where he benefitted the sum of $2000 (Two Thousand United States Dollars) from it.”
The EFCC added that pig butchering scam is a type of fraud in which criminals lure victims into digital relationships to build trust before convincing them to invest in cryptocurrency platforms.
