The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Chima Hyginus Nkwocha, popularly known as “Young Billionaire,” on charges of impersonation and money laundering.
In a statement released on Thursday via its official X handle, the EFCC announced that Nkwocha was arraigned before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, on a two-count charge.
The defendant pleaded guilty to the charges when they were read to him.
Details of the Case
Prosecution counsel Lanre Adeola Olanrewaju told the court that Nkwocha was arrested in August 2024 in the Lugbe area of Abuja following intelligence gathered by the EFCC’s Advanced Fee Fraud Section.
During the arrest, several items and properties were recovered, including:
- A black Mercedes Benz ML 350 (registration No. B-2, Chassis no. 4JGDA5HB9DA105827)
- Two gold necklaces with pendants and one gold bracelet
- $2,200 in cash
- N90,280,934.00 in a Zenith Bank account under Ginux Global Nigeria Ltd (account no. 1228782493)
- A three-bedroom terrace duplex at Cookies Court 2, Ocean Palm Estate, Ajah, Lagos
- A three-bedroom bungalow and two self-contained apartments at Plot B023, Standard Estate, Galadima, Abuja
- 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 and October 17, 2024, respectively
- Electronic devices, including an iPhone 13 Pro Max, a Samsung Galaxy S21 Ultra, and a Samsung Galaxy S24 Ultra
The EFCC revealed that Nkwocha impersonated individuals, including Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, to defraud Linda Wheeler, an American citizen, of $345,000 using email and Google Voice accounts.
Judgment
Justice Nwite found Nkwocha guilty and sentenced him to two years’ imprisonment with an option of a fine of N2,000,000. The court also ordered the forfeiture of all recovered items and properties, which were proceeds of crime, to the Federal Government of Nigeria.
The EFCC emphasized its commitment to combating financial crimes and protecting the integrity of Nigeria’s financial systems.
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