Crime
EFCC arraigns McHarvey Capital CEO for $1.6m crypto fraud and money laundering.
EFCC arraigns McHarvey Capital CEO for $1.6m crypto fraud and money laundering.
The Economic and Financial Crimes Commission (EFCC) has arraigned three young men over alleged $1.6 million cryptocurrency fraud.
According to a press release by the EFCC on X, the charges are brought against Benjamin Okenna Ikaa, the operator of McHarvey Capital Limited, along with two others, Chidera Jonas and Ikaa Ejike Benjamin.
The arraignment took place on Wednesday, December 6, 2023, before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja.
The charges faced by the trio include four counts related to obtaining funds through false pretense and money laundering in connection with a cryptocurrency investment fraud amounting to $1,621,352.
The charges against the three defendants revolve around their alleged fraudulent activities on social media platforms, enticing victims with promises of substantial daily returns on cryptocurrency investments.
One of the specific charges alleges that the defendants, with intent to defraud, sent electronic messages misrepresenting facts about cryptocurrency investment on their website, http://mcharveycapital.com, resulting in financial loss to Monica Garcia in the sum of $1,501,0352,000. This charge violates Section 14(2) of the Cybercrime (Prohibition, Prevention, etc.) Act 2015.
During the court proceedings, Benjamin Okenna Ikaa, identified as the only defendant present, pleaded not guilty to the charges. The prosecution counsel, Bamidele Akanmode, requested a trial date and proposed remanding the defendant in EFCC’s custody for plea deal negotiations. In contrast, the defense counsel, Adachi Abel, sought a brief adjournment.
Justice Nwite ordered the remand of the defendant at Kuje Correctional Centre and scheduled the next hearing for December 13, 2023.
A further search by Nairametrics revealed negative reviews about the integrity of the company from platforms like Reddit, Scam Watcher, and some other sites. Also, a visit to the McHarvey website showed that it has now been disabled.
