The Economic and Financial Crimes Commission, EFCC, said it has secured the conviction of one Chima Hyginus Nkwocha, also known as “Young Billionaire,” for cheating by impersonation and money laundering.

This was made known in a statement by the Commission via its official X handle on Thursday.

EFCC stated that Nkwocha was arraigned before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on a two-count charge bordering on cheating by impersonation and money laundering, where he pleaded guilty to the charges when they were read to him.

The prosecution counsel, Lanre Adeola Olanrewaju, told the court that the convict was arrested in August 2024 at the Lugbe area of Abuja following an intelligence received by the EFCC’s Advanced Fee Fraud Section.

Olanrewaju stated that a black Mercedes Benz ML 350 with registration No. B-2 and Chassis no. 4JGDA5HB9DA105827, two gold necklaces with pendants, one gold bracelet, $2,200 cash, N90,280,934.00 in the Ginux Global Nigeria Ltd Zenith Bank (account no. 1228782493), were recovered during his arrest.

Others items recovered from the convict include: A three-bedroom terrace duplex at Cookies Court 2, 2nd Avenue, Ocean Palm Estate, Ogombo, Sangotedo, Ajah, Lagos, a three-bedroom bungalow and two self-contained apartments situated on Plot B023, Standard Estate, Galadima, Abuja, and a plot of land measuring about 300 square meters at Eko Beach City, Lekki Phase 1, Lagos, two Zenith Bank drafts worth N5,000,000 and N3,000,000, dated September 12, 2024, and October 17, 2024, respectively. An iPhone 13 Pro Max, a Samsung Galaxy S21 Ultra, and a Samsung Galaxy S24 Ultra.

The Commission stated that Nkwocha confessed before the court to have impersonated Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt using gmail and google voice to defraud Linda Wheeler, an American, of $345,000.

Satisfied with the EFCC’s submissions,
Justice Nwite found Nkwocha guilty and sentenced him to two years’ imprisonment with an option of a fine of N2,000,000.

Additionally, the court ordered the forfeiture of the following items, being proceeds of crime, to the Federal Government of Nigeria: a black Mercedes Benz ML 350, gold jewelry and $2,200 cash, N90,280,934.00 in the Ginux Global Nigeria Ltd Zenith Bank account, properties in Lagos, Abuja, and Lekki, the Zenith Bank drafts and the electronic devices recovered from the convict.

Internet fraudster bags two years in jail for money laundering