McHarvey Capital Boss Faces $1.6m Crypto Fraud Charges in EFCC Money Laundering Arraignment

The Economic and Financial Crimes Commission (EFCC) has brought charges against three individuals for an alleged $1.6 million cryptocurrency fraud. The accused include Benjamin Okenna Ikaa, operator of McHarvey Capital Limited, Chidera Jonas, and Ikaa Ejike Benjamin. The arraignment occurred on December 6, 2023, before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja.

The charges encompass four counts related to obtaining funds through false pretense and money laundering, specifically linked to a cryptocurrency investment fraud totaling $1,621,352. The defendants are accused of engaging in fraudulent activities on social media platforms, luring victims with promises of significant daily returns in cryptocurrency investments.

One specific charge alleges that the defendants, with the intent to defraud, sent electronic messages misrepresenting facts about cryptocurrency investment on their website, http://mcharveycapital.com. This allegedly resulted in a financial loss of $1,501,0352,000 to one Monica Garcia, a violation of Section 14(2) of the Cybercrime (Prohibition Prevention etc.) Act 2015.

During the court proceedings, Benjamin Okenna Ikaa, the only defendant present, pleaded not guilty to the charges. The prosecution counsel, Bamidele Akanmode, requested a trial date and proposed remanding the defendant in EFCC’s custody for plea deal negotiations. In contrast, the defense counsel, Adachi Abel, sought a brief adjournment. Justice Nwite ordered the remand of the defendant at Kuje Correctional Centre and scheduled the next hearing for December 13, 2023.

A further search by InfoStride News revealed negative reviews about the integrity of the company from platforms like Reddit, Scam Watcher, and other sites. Additionally, a visit to the McHarvey website showed that it has now been disabled.