The Federal High Court in Maitama, Abuja, has sentenced Chima Hyginus Nkwocha, popularly known as “Young Billionaire,” to two years in prison for defrauding an American woman of $345,000.
Nkwocha, who pleaded guilty to charges of cheating by impersonation and money laundering, was prosecuted by the Economic and Financial Crimes Commission (EFCC). Justice Emeka Nwite delivered the judgment on December 31, 2024.
Nigerian Bar Association Monthly Newsletter Maiden Edition – December 2024
The court found Nkwocha guilty of impersonating multiple individuals, including Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, to deceive Linda Wheeler, an American, via Gmail and Google Voice.
Through these schemes, Nkwocha obtained $345,000, which he converted into the naira equivalent through Ginux Global Nigeria Ltd’s Zenith Bank account, where he was the sole signatory.
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During his arrest in August 2024 at Lugbe, Abuja, EFCC operatives recovered several high-value assets, including:
- A black Mercedes Benz ML 350
- Gold jewelry
- $2,200 in cash
- N90,280,934.00 in a Zenith Bank account
- Real estate properties in Lagos and Abuja
- Zenith Bank drafts worth N8 million
- Electronic devices such as an iPhone 13 Pro Max, Samsung Galaxy S21 Ultra, and Samsung Galaxy S24 Ultra
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Nkwocha confessed to his crimes during interrogation and admitted using aliases to defraud his victim. The court also ordered the forfeiture of all recovered assets to the Federal Government of Nigeria as proceeds of crime.
Justice Nwite sentenced Nkwocha to two years in prison, with an option of a N2 million fine.
The EFCC welcomed the judgment, describing it as a step forward in the fight against cybercrime and fraudulent practices.