An Ikeja Special Offences Court on Tuesday sentenced a forex trader, Shola Henry, to two years imprisonment for stealing N20 million.
Justice Oluwatoyin Taiwo, in her ruling, held that cryptocurrency business was nothing but a Ponzi scheme.
“The prosecution, however, proved the charge of stealing against the defendant and he is found guilty as charged of count six.
“The defendant is hereby sentenced to two years’ imprisonment or pay a fine of N2 million. His company is also fined N1 million.
“The defendant is hereby given one year to make restitution of N20 million to his victim,” the judge said.
Taiwo further held that the allegation of obtaining money under false pretence was not proved by the prosecution.
She discharged and acquitted the convict on counts one to five.
