EFCC has secured the conviction of Dennis Tamarakuro for defrauding U.S. NGO of $71,795.
NaijaOnPoint Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Dennis Tamarakuro, also known as Keisha Reynolds, for defrauding the U.S.-based non-governmental organisation, Pregnancy Support Network, of $71,795.41.
The Federal High Court, Maitama, Abuja, presided over by Justice Emeka Nwite, delivered the judgment following Tamarakuro’s guilty plea to a one-count charge of cybercrime.
Details of the Offence
According to the charge, Tamarakuro, in December 2024, impersonated Keisha Reynolds, a female U.S. private investor, to defraud Philbert through the Bybit exchange platform. The act contravened Section 22(2)(b)(ii) of the Cybercrime (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024.
During trial, EFCC investigator Ogunjobi Olalekan explained that intelligence from the Jackson Township Police Department in the U.S. revealed the NGO’s bank details were compromised, with stolen funds routed through intermediaries, including a suspect named Libson Junior and converted into cryptocurrency linked to Tamarakuro’s Bybit wallet.
Recovery of Funds
Olalekan confirmed that Tamarakuro received 0.27 Bitcoin twice from Libson Junior and later withdrew $18,000 in cryptocurrency via the Busha exchange. EFCC recovered $42,278.81 from Bybit and Busha, while the remaining balance was blocked by a U.S. bank. Relevant documents, including Tamarakuro’s voluntary statement, were admitted as exhibits.
Court Judgment
Justice Nwite sentenced Tamarakuro to one year in prison or an option to pay a N1 million fine to the Federal Government. The judge also ordered that all recovered funds be returned to the victim and directed the convict to depose an affidavit of good conduct.
EFCC’s Ongoing Crackdown
The conviction is part of EFCC’s intensified efforts against fraud and cybercrime. Recent high-profile cases include Ahamba Tochukwu, CEO of Gavice Logistics Limited, accused of defrauding over 400 investors of more than N2 billion in a Ponzi scheme, and Precious Williams of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, implicated in a N13.8 billion Ponzi fraud.
The Commission has also warned Nigerians about 58 suspected Ponzi operators who are not registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).