Justice Efe Ikponmwonba of the Edo State High Court, Benin City, has ordered the forfeiture of N120,284,986 found in the Keystone Bank account of Oghenemine Agbroko, a convicted fraudster, on Tuesday.

The fund will go to the Federal Bureau of Investigation (FBI) through the Economic and Financial Crimes Commission (EFCC).

“Agbroko was among five internet fraudster convicted and sentenced to five years imprisonment for fraud by Justice Ikonmwonba. The others are Kennedy Uwuigbe, Odiase Osariemen Christian, Collins Edobor and Ebichuwa Victory Ovie,” an EFCC statement released on Wednesday reads in part.

“They were arraigned separately on one count charge bordering on retention of proceeds of crime, personation and unlawful possession of fraudulent documents by the Benin Zonal Command of the EFCC.”

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According to the charge read against Agbroko, the Edo State authorities retained N120,284,986 in his bank account on November 12, 2021. The court ruled that the funds in the Keystone Bank account were proceeds of criminal conducts punishable under Section 17(b) of the EFCC (Establishment) Act 2004.

Agbroko pleaded guilty to the charge against him.

Pascal Ugbome, Agbroko’s lawyer, pleaded with the Edo State High Court to “temper justice with mercy as the defendants were first-time offenders who have become remorseful for their actions”.

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Justice Ikponmwonba convicted and sentenced Agbroko to five years in prison with a N200,000 fine option.

The court also ordered that Agbroko’s bank account used in committing the financial crime be closed.