Internet Fraudster Sentenced to Two Years for Money Laundering

 Internet Fraudster Sentenced to Two Years for Money Laundering

The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Chima Hyginus Nkwocha, also known as “Young Billionaire,” on charges of impersonation and money laundering.

In a statement shared on its official X handle on Thursday, the EFCC announced that Nkwocha was arraigned before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja. He pleaded guilty to the two-count charges against him.

Prosecuting counsel, Lanre Adeola Olanrewaju, revealed that Nkwocha was arrested in August 2024 in Abuja’s Lugbe area following intelligence from the EFCC’s Advanced Fee Fraud Section.

Items recovered from Nkwocha included:

A black Mercedes Benz ML 350, two gold necklaces, a gold bracelet, $2,200 cash, and N90,280,934.00 from a Zenith Bank account linked to Ginux Global Nigeria Ltd.
A three-bedroom terrace duplex in Cookies Court, Ocean Palm Estate, Ajah, Lagos.
A three-bedroom bungalow and two self-contained apartments in Standard Estate, Galadima, Abuja.
A 300-square-meter plot of land in Eko Beach City, Lekki Phase 1, Lagos.
Two Zenith Bank drafts worth N5 million and N3 million, dated September and October 2024.
An iPhone 13 Pro Max, a Samsung Galaxy S21 Ultra, and a Samsung Galaxy S24 Ultra.
Nkwocha admitted to impersonating several individuals, including Frank Nils and Chiress Riffatt, to defraud an American, Linda Wheeler, of $345,000 using Gmail and Google Voice.

Justice Nwite, satisfied with the EFCC’s evidence, sentenced Nkwocha to two years in prison with an option of a N2 million fine.

The court also ordered the forfeiture of all items recovered during the investigation, including cash, properties, and electronic devices, to the Federal Government of Nigeria.