Young Billionaire” Jailed For Internet Fraud, Assets Forfeited To FG

By Onoja Baba, Nigeria

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.

The conviction, announced in a statement signed by Wilson Uwujaren, the EFCC’s Head of Media and Publicity, was posted on the commission’s official Twitter page on Thursday.

Nkwocha was sentenced to two years’ imprisonment by Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, on Tuesday, December 31, 2024.

The charges against him included cheating by impersonation and laundering proceeds from his fraudulent activities.

The court heard how Nkwocha, using fake Gmail accounts and Google Voice numbers, impersonated multiple individuals to defraud an American, Linda Wheeler, of $345,000.

The naira equivalent of the money was funneled through Ginux Global Nigeria Ltd, a Zenith Bank account where Nkwocha was the sole signatory.

Prosecution counsel, Lanre Adeola Olanrewaju, told the court that Nkwocha was arrested in August 2024 in the Lugbe area of Abuja after intelligence gathered by the EFCC’s Advanced Fee Fraud Section linked him to cybercrime.

Several items, including luxury vehicles, properties in Lagos and Abuja, and large sums of money, were discovered to be proceeds of his fraudulent activities.

Nkwocha pleaded guilty to the charges. The court, satisfied with the evidence presented, convicted him and sentenced him to two years’ imprisonment.

Justice Nwite also ordered the forfeiture of all assets linked to his crimes, including properties, vehicles, jewelry, bank drafts, cash, and electronic devices, to the Federal Government.

The EFCC described the conviction as a significant step in its efforts to curb cybercrime and recover proceeds of fraud. Nkwocha’s guilty plea and the subsequent court ruling bring closure to a case that highlights the consequences of internet fraud and the commitment of the EFCC to uphold justice.