Justice Nicholas Oweibo of the Federal High Court sitting in Lagos, yesterday convicted one Lawrence Success Karinate, a Peer-to-Peer, crypto trader for computer-related fraud known as pig-butchering scam.on a one-count charge bordering on cybercrimes, an offence contrary to and punishable under Section 22 of the Cybercrimes Act, 2015.
“He was further interrogated, and admitted to have engaged in a pig-butchering scam and benefitted the sum of $2,000 from it.Pig butchering scam is a type of fraud in which criminals lure victims into digital relationships to build trust before convincing them to invest in cryptocurrency platforms. In his allocutus, Karinate expressed regret for his involvement in the criminal activity and assured the court that he would never engage in internet fraud again.
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