A Warri-based fish farmer, Mr. Edafe Imirike, has told the Federal High Court in Abuja that he was deceived into investing $10,778.64 in Afriq Arbitrage System (AAS) Limited, a cryptocurrency platform.
The company and its CEO, Jesam Michael, are facing charges of advance fee fraud brought by the Economic and Financial Crimes Commission (EFCC).
Imirike, the first prosecution witness, testified that he invested in the platform after being introduced to it by his sister, who resides in Canada.
He claimed that Michael showed him a Corporate Affairs Commission (CAC) document and an EFCC certificate to assure him of the platform’s legitimacy.
“He told me what to expect. He showed me a CAC document and EFCC certificate to show that the platform was legit,” Imirike said.
He added that he invested the money from his fish farming business and even invited two of his uncles to join the platform.
During cross-examination, Imirike admitted that he invested because he believed the platform was genuine.
“I invested based on the CAC and the EFCC certificates and that the platform was genuine. That our capital will be secured,” he said.
The witness also testified that he received returns on his investment, including a withdrawal of $137. However, he denied collecting a total of $11,910.00 as returns, as claimed by the defense lawyer.
The court adjourned the matter until June 27 and July 4 for continuation of trial.
