RismadarVoice Reporters
March 26, 2026
An Edo State High Court sitting in Benin City has sentenced one Osamudiamen Philip Ikilo to two years imprisonment for fraud involving Bitcoin valued at $19,400.
The conviction was secured by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) before Justice W.I. Aziegbemhin.
Ikilo was arraigned on a one-count charge bordering on stealing, contrary to Sections 287 and 294 of the Criminal Law of Edo State, 2022. He initially pleaded not guilty, leading to a full trial.
According to the charge, the convict fraudulently converted 0.52092582 Bitcoin, valued at $19,400, belonging to one Cynthia Imade Alile, to his personal use in March 2024.
During the trial, prosecution counsel, A.S. Bala-Ribah, presented two witnesses and tendered documentary evidence, which were admitted by the court. The defendant also testified in his defence and called an additional witness.
Delivering judgment on March 23, 2026, Justice Aziegbemhin found Ikilo guilty as charged and sentenced him to two years imprisonment without an option of fine.
The court heard that the offence occurred after the convict offered to help the victim convert her Bitcoin to cash but instead diverted the funds for personal use.
