Justice Aisha Kumaliya of the Borno State High Court sitting in Maiduguri has convicted and sentenced Bukar Ahmed Shuwa to ten years imprisonment for defrauding a resident of N2.95 million through a fake cryptocurrency investment scheme.
Shuwa was arraigned on Wednesday, June 3, 2026, by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on a one-count amended charge bordering on cheating involving the sum of N2,950,000. According to the charge, the defendant fraudulently induced one Mahmud Ali to part with the money under the pretext of investing in a Crypto Bitget Wallet Coin scheme.
The prosecution told the court that the offence was committed in 2024 in Maiduguri, Borno State, and was contrary to Section 309 and punishable under Section 310 of the Penal Code Law and Other Matters Connected Therewith Law, 2023.
When the charge was read to him, Shuwa pleaded guilty. Following the plea, prosecution counsel A.D. Abdulmalik urged the court to convict and sentence the defendant accordingly. Defence counsel H. Basharu, however, pleaded for leniency, noting that the convict had fully refunded the money to the victim.
Basharu further appealed to the court to temper justice with mercy and consider imposing a fine instead of a custodial sentence. He argued that the restitution made by the defendant demonstrated remorse and should be taken into account during sentencing.
In her judgment, Justice Kumaliya convicted Shuwa and sentenced him to ten years imprisonment with an option of a N200,000 fine. The court held that the convict had diverted the victim’s investment funds for personal use after falsely promising returns through the purported cryptocurrency investment platform.
