Two Nigerians have been charged in the US over cryptcurrency fraud. The two Nigerians charged with cryptocurrency fraud were identified as Kelvin Usifoh, 24, and Onwuemerie Gift of unidentified age, and they allegedly defrauded people in an online scheme, bitcoin.
The duo who are facing a 13-count charge of conspiracy to commit wire fraud and money laundering according to a statement published on the website of the U.S Attorney’s office for the district of Oregon on Wednesday, reportedly committed the said offence between December 2017 and June 2018.
The duo had defrauded three victims, one residing in Oregon and two in California, of 10.88 bitcoins worth approximately $59,000 (N21,269,500.00).
It was gathered that they launched three fraudulent webpages namely; wealthcurrency.com, boomcurrency.com, and merrycurrency.com to scam the victims who they 20-50 per cent returns on investments of bitcoin with zero risk and instant withdrawals.
”In an indictment filed on April 18, 2019, Onwuemerie Ogor Gift, 24, and Kelvin Usifoh, age unknown, were charged with one count each of conspiracy to commit wire fraud and money laundering and 11 counts of wire fraud. They actively encouraged victims to transfer bitcoin to private virtual currency wallets and made numerous false claims including that their bitcoins would be invested using “unique trading methods” and they would maintain a “constant high-interest rate.”
The statement also explained that after the pair had received the Bitcoin from their victims, they, however, transferred the bitcoins to other accounts for an exchange to Nigerian Naira. Beginning in December 2017 and continuing until at June 2018, Gift and Usifoh are alleged to have knowingly conspired to defraud three victims, one residing in Oregon and two in California.
”After receiving bitcoin transfers from their victims, Gift and Usifoh would transfer the bitcoin to other accounts and eventually exchange it for Nigerian Naira. The indictment alleges that in just over six months, the defendants stole 10.88 bitcoins worth approximately $59,000 from the three victims. In total, the government alleges Gift and Usifoh received more than 50 bitcoins as part of the scheme,” the statement reads.