The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Chima Hyginus Nkwocha, popularly known as “Young Billionaire,” for internet fraud and money laundering cases.
Nkwocha was sentenced to two years in prison on December 31, 2024, by Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, after pleading guilty to a two-count charge of impersonation and money laundering.
Nkwocha was accused of fraudulently impersonating identities such as “Frank Nils,” “Frank Cobert,” “Frank Brown,” and “Chiress Riffatt” to defraud Linda Wheeler, an American, of $345,000.
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He used fake Gmail accounts and Google Voice to perpetrate the fraud and received the naira equivalent through Ginux Global Nigeria Limited’s Zenith Bank account, of which he was the sole signatory.
Following intelligence received by the EFCC’s Advanced Fee Fraud Section, Nkwocha was arrested in August 2024 in the Lugbe area of Abuja.
During the arrest, several high-value assets linked to his fraudulent activities were recovered.
These included a black Mercedes Benz ML 350, gold jewellery, $2,200 in cash, N90,280,934.00 in a Zenith Bank account, two bank drafts worth N5,000,000 and N3,000,000, high-end smartphones, and properties in Lagos and Abuja, including a three-bedroom duplex, a bungalow, and a plot of land in Lekki Phase 1.
The EFCC presented compelling evidence in court, including Nkwocha’s extrajudicial statements, forensic investigation reports, and items recovered during his arrest. All evidence was admitted by the court without objection from the defence.
Based on the EFCC’s submissions, the court found Nkwocha guilty and sentenced him to two years’ imprisonment with an option of a N2,000,000 fine.
Additionally, Justice Nwite ordered the forfeiture of all assets linked to Nkwocha’s fraudulent activities to the Federal Government of Nigeria.
These assets included properties, vehicles, cash, and electronic devices, highlighting the EFCC’s commitment to recovering proceeds of crime.
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