Chima Hyginus Nkwocha, infamously dubbed the “Young Billionaire,” was sentenced to a two-year prison term by Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, effectively ending his reign of cybercrime.
Nkwocha’s downfall began with his arrest by the Economic and Financial Crimes Commission (EFCC) in August 2024 in the Lugbe area of Abuja.
A comprehensive investigation revealed that in 2022, he had impersonated various individuals, including Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, using Gmail addresses [email protected] and [email protected] to defraud an American, Linda Wheeler, of $345,000.
He received the naira equivalent of this amount through Ginux Global Nigeria Limited, with account No. 1228782493 held at Zenith Bank.
Further inquiries uncovered that Nkwocha had amassed an impressive collection of luxury items, including a black Mercedes Benz ML 350 (registration No. B-2, Chassis No. 4JGDA5HB9DA105827), two gold necklaces with pendants, one gold bracelet, $2,200 in cash, and N90,280,934.00 in the Ginux Global Nigeria Ltd Zenith Bank account.
His property portfolio included a three-bedroom terrace duplex at Cookies Court 2, 2nd Avenue, Ocean Palm Estate, Ogombo, Sangotedo, Ajah, a three-bedroom bungalow, and two self-contained apartments on Plot B023, Standard Estate, Galadima, Abuja, as well as a 300-square-metre plot of land at Eko Beach City, Lekki Phase 1, Lagos. He also possessed two Zenith Bank drafts valued at N5,000,000 and N3,000,000, dated September 12, 2024, and October 17, 2024, respectively.
In addition, the young fraudster owned an iPhone 13 Pro Max, a Samsung Galaxy S21 Ultra, and a Samsung Galaxy S24 Ultra.
Shortly after his arrest, he faced two counts of cheating by impersonation and money laundering in court.
When the charges were read to him, he entered a guilty plea.
Nkwocha confessed to impersonating Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt via Gmail and Google Voice to defraud Linda Wheeler of $345,000.
Following his guilty plea, prosecution counsel Lanre Adeola Olariwaju presented an overview of the case against Nkwocha, urging the court to convict him appropriately.
Olariwaju submitted a range of evidence, including the defendant’s extrajudicial statements, electronic devices, and forensic investigation reports. The defence raised no objections, and the court admitted all evidence as exhibits.
Justice Nwite, satisfied with the EFCC’s findings, declared Nkwocha guilty.
The court sentenced him to two years in prison, with an alternative fine of N2,000,000.
Moreover, the court ordered the forfeiture of items deemed proceeds of crime to the Federal Government of Nigeria, including the black Mercedes Benz ML 350, gold jewellery, $2,200 in cash, N90,280,934.00 in the Ginux Global Nigeria Ltd Zenith Bank account, properties located in Lagos, Abuja, and Lekki, the Zenith Bank drafts, and the electronic devices recovered from Nkwocha.
