EFCC Secures Conviction of Billionaire Internet Fraudster in Abuja

The Economic and Financial Crimes Commission (EFCC) has successfully secured the conviction of Chima Hyginus Nkwocha, popularly known as “Young Billionaire,” for charges of impersonation and money laundering. Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, sentenced Nkwocha to two years in prison on December 31, 2024.

Nkwocha, who pleaded guilty to a two-count charge, was found guilty of defrauding an American woman, Linda Wheeler, of $345,000. The court also ordered the forfeiture of his ill-gotten assets, including properties in Abuja and Lagos, luxury vehicles, and over ₦90 million in his Zenith Bank account.

The Fraudulent Scheme: How It Unfolded

The EFCC’s case against Nkwocha detailed a sophisticated scheme involving the impersonation of four individuals: Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt. Using Gmail addresses and Google Voice accounts, Nkwocha targeted his victim, Linda Wheeler, under false pretenses.

Court documents revealed that Nkwocha fraudulently obtained $345,000 from Wheeler in 2022. He laundered the funds through Ginux Global Nigeria Limited, a company where he was the sole signatory to the Zenith Bank account used in the transactions. This act violated Section 22(2) of the Cyber Crimes (Prohibition, Prevention, Etc.) Act, 2015.

Arrest and Evidence Submission

Nkwocha was apprehended in August 2024 in the Lugbe area of Abuja following intelligence gathered by the EFCC’s Advanced Fee Fraud Section. During his arrest, a trove of luxury items and properties linked to his fraudulent activities were recovered. These included:

A black Mercedes Benz ML 350

Gold jewelry worth millions

$2,200 cash and ₦90,280,934.00 in his Zenith Bank account

Multiple properties in Lagos, Abuja, and Lekki, including a three-bedroom terrace duplex and a plot of land at Eko Beach City

Two Zenith Bank drafts valued at ₦5 million and ₦3 million, respectively

High-end electronic devices, including an iPhone 13 Pro Max and a Samsung Galaxy S24 Ultra

The EFCC presented overwhelming evidence in court, including the defendant’s extrajudicial statements, forensic reports, and electronic devices linked to the crime. The defense raised no objections, leading the court to admit all evidence as exhibits.

Sentencing and Forfeiture of Assets

After reviewing the case, Justice Nwite sentenced Nkwocha to two years imprisonment, with an option of a ₦2,000,000 fine. Additionally, the court ordered the forfeiture of all assets acquired through the fraudulent scheme to the Federal Government of Nigeria.

Items forfeited include the Mercedes Benz, cash in the Zenith Bank account, gold jewelry, and properties in prime locations across Abuja and Lagos. The forfeiture also extended to the bank drafts and electronic devices used in the crimes.

This conviction underscores the EFCC’s commitment to combating cybercrime and serves as a stern warning to others involved in similar fraudulent activities. The agency reaffirmed its dedication to protecting victims of cybercrime and recovering stolen assets.

Nkwocha’s conviction marks a significant victory in the EFCC’s fight against internet fraud. His arrest, prosecution, and sentencing demonstrate the agency’s resolve to hold fraudsters accountable and recover proceeds of crime. Justice has not only been served, but a clear message has been sent to others who may consider engaging in such criminal acts. .

EFCC Call for Public Collaboration in Anti-Corruption Efforts

The EFCC’s success in securing this conviction underscores the agency’s commitment to fighting corruption and cybercrime in Nigeria. However, sustained progress in this fight requires active public involvement. Citizens are urged to support anti-corruption campaigns and report suspicious activities to relevant authorities.

Corruption continues to stifle Nigeria’s growth and development. Therefore, fostering collaboration between the EFCC and the public is essential for creating a society free from financial crimes. By taking ownership of the fight against corruption, Nigerians can contribute to building a more prosperous and equitable nation.