In a recent ruling, Justice Efe Ikponmwonba of the Edo State High Court in Benin City has convicted and sentenced two individuals, Raji Afeez Onii and Udo-Iwe Aniedi Raphael, to two years imprisonment for perpetrating a forex scam.

The duo pleaded guilty to a charge of obtaining money under false pretenses, as brought against them by the Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC). The charge stated that they provided their bank account details to Abe Rachel Remote for the purpose of receiving unlawfully obtained funds from the public, violating Section 17(a) of the EFCC (Establishment) Act 2004.

Upon pleading guilty, the prosecution counsel, Salihu Ahmed, urged the court to convict and sentence them accordingly. While the defendants' counsel requested leniency, citing remorse on their part, Justice Ikponmwonba handed down a two-year imprisonment sentence or a fine of N100,000 each. Additionally, a Toyota Camry car recovered from one of the defendants was forfeited to the Federal Government as proceeds of the crime.

Furthermore, the court ordered restitution of the entire sum of N10,917,357.00 to the victims. The scam involved collecting money from the public for purported investment in forex trading, which was later revealed to be fraudulent.

This case underscores the EFCC's commitment to combating financial crimes and holding perpetrators accountable for their actions.