By Peace Udugba -The daily torch media
The Economic and Financial Crimes Commission (EFCC), Benin Zonal Directorate, has secured the conviction and sentencing of Osamudiamen Philip Ikilo for fraud.
Ikilo was arraigned on a one-count charge of stealing before Justice W.I. Aziegbemhin of the Edo State High Court sitting in Benin City, Edo State.
Upon arraignment, the defendant pleaded not guilty, prompting a full trial.
The charge stated that Ikilo, in March 2024, within the jurisdiction of the court, fraudulently converted Bitcoin valued at $19,400 belonging to one Cynthia Imade Alile to his personal use. The offence is contrary to Section 287 of the Criminal Law of Edo State, 2022, and punishable under Section 294 of the same law.
During the trial, prosecution counsel A.S. Bala-Ribah called two witnesses and tendered documentary evidence, all of which were admitted by the court. The defendant also called two witnesses, including himself.
In his judgment delivered on Monday, March 23, 2026, Justice Aziegbemhin found Ikilo guilty and sentenced him to two years imprisonment without an option of fine.
The EFCC said the convict’s journey to prison began when he offered to assist the petitioner in converting 0.52092582 Bitcoin, valued at $19,400, but failed to remit the proceeds, instead diverting the funds for personal.
