The Federal High Court in Abuja has sentenced Chima Nkwocha, also known as “Young Billionaire,” to two years imprisonment for defrauding a United States citizen of $345,000. The case, brought by the Economic and Financial Crimes Commission (EFCC), also resulted in the forfeiture of Nkwocha’s assets to the Federal Government of Nigeria.
Details of the Fraud
Nkwocha, using aliases such as Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, impersonated individuals on Gmail and Google Voice to defraud an American citizen, Linda Wheeler. The fraudulent scheme, which began in 2022, involved the use of fake email addresses (frankcorbett272@gmail.com and chriressrifatt@gmail.com) to obtain funds from the victim. The naira equivalent of the defrauded sum was funneled through Ginux Global Nigeria Limited, a company where Nkwocha was the sole signatory.
Prosecution and Conviction
The EFCC arrested Nkwocha in August 2024 and arraigned him before Justice Emeka Nwite on two counts of impersonation and fraud. During the trial, the prosecuting counsel, Lanre Olanrewaju, presented evidence of the convict’s lavish lifestyle and fraudulent activities, including:
- A black Mercedes Benz ML 350
- Gold jewellery, including necklaces, pendants, and a bracelet
- $2,200 cash
- N90,280,934.00 in a Zenith Bank account
- Real estate properties, including a three-bedroom terrace duplex, a three-bedroom bungalow, and two self-contained apartments
- A plot of land measuring 300 square meters
- Two Zenith Bank drafts worth N8,000,000
- Multiple electronic devices and phones
Nkwocha pleaded guilty to the charges, leading to his conviction.
Sentencing and Asset Forfeiture
Justice Nwite sentenced Nkwocha to two years imprisonment, with the option of paying a ₦2 million fine. Additionally, the court ordered the forfeiture of all assets linked to the crime, including:
- The Mercedes Benz ML 350
- Gold jewellery and cash in foreign and local currencies
- Funds in the Zenith Bank account associated with Ginux Global Nigeria Limited
- Properties in Lagos, Abuja, and Lekki
- Zenith Bank drafts worth ₦8 million
- Electronic devices recovered during the investigation
The forfeited items are to be handed over to the Federal Government of Nigeria.
EFCC’s Commitment to Justice
The EFCC expressed satisfaction with the outcome, emphasizing its commitment to combating cybercrime and ensuring justice for victims of fraud.
Nkwocha’s conviction serves as a warning to others engaged in similar criminal activities, showcasing the Nigerian government’s determination to tackle cybercrime and recover proceeds of fraud.
