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Fake Investor jailed for $71,000 fraud

by Present Nigeria
September 5, 2025
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Fake Investor jailed for $71,000 fraud
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The Economic and Financial Crimes Commission, EFCC, on Thursday, September 4, 2025, secured the conviction and sentence of one Dennis Tamarakuro (a.k.a. Keisha Reynolds) before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja.

Tamarakuro was arraigned on a one-count charge bordering on cybercrimes.

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The lone charge reads: “That you, DENNIS TAMARAKURO (a.k.a Keisha Reynolds) sometime in December 2024 at Abuja within the jurisdiction of this Honourable Court, with intent to defraud, falsely represented yourself as Keisha Reynolds, a female private investor in the United States of America, and in that assumed character obtained the sum of $71,795.41 (Seventy-One Thousand, Seven Hundred and Ninety-Five Dollars, Forty-One Cents) from one Philbert, through Bybit, and thereby committed an offence contrary to Section 22(2)(b)(ii) of the Cybercrime (Prohibition, Prevention, etc.) Act, 2015 as Amended in 2024 and punishable under Section 22(2)(b)(iv) of the same Act.”

He pleaded guilty when the charge was read to him.

Following his guilty plea, prosecution counsel, Maryam Aminu Ahmed, presented an EFCC investigator, Ogunjobi Olalekan, to review the facts of the case.

Olalekan told the court that intelligence from the Jackson Township Police Department in the United States revealed that a Non-Governmental Organisation, NGO, Pregnancy Support Network, was defrauded of $71,795.41. Investigations showed that the NGO’s bank details were compromised and the funds diverted through a romance scam turned money mule scheme.

The funds were traced through several intermediaries, including a suspect identified as Libson Junior, before being converted to cryptocurrency and sent to a Bitcoin address on Bybit exchange. Further investigations revealed that the wallet was owned by Tamarakuro.

According to Olalekan, Tamarakuro received 0.27 Bitcoin twice from Libson Junior, and later withdrew $18,000 worth of cryptocurrency through Busha exchange.

Responses from both Bybit and Busha exchanges confirmed that the accounts belonged to the convict.

“Upon arrest, the allegation was brought to his attention in the presence of his lawyer. He was interviewed under video recording, cautioned and he made a voluntary statement,” Olalekan said. He added that out of the $71,795.41 defrauded, the EFCC recovered over $42,000 in cryptocurrency, while the balance was blocked by a U.S. bank.

The prosecution tendered documents including Tamarakuro’s statement and correspondences with the exchanges, which were admitted as exhibits. It also confirmed the recovery of $22,157.40 from Bybit and $20,121.41 from Busha exchange, and urged the court to forfeit the sums to the victim.

Justice Nwite convicted Tamarakuro as charged.

Meanwhile, defence counsel, Laye Aeemokoya, pleaded for leniency, citing his client’s status as a first-time offender, a father and caregiver to an aged mother, and the fact that all proceeds of the crime had been recovered by the EFCC.

In his judgment, Justice Nwite sentenced Tamarakuro to one year imprisonment with an option of N1 million fine payable to the Federal Government of Nigeria. He also ordered that the recovered sums be forfeited to the victim and directed the convict to depose to an affidavit of good conduct.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
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