Nigerian 'young billionaire' sentenced for defrauding American woman $345,000

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 impersonation and money laundering, was convicted on December 31, 2024, by Justice Emeka Nwite.

According to the Economic and Financial Crimes Commission (EFCC), Nkwocha impersonated multiple individuals, including “Frank Nils” and “Frank Cobert,” using Gmail and Google Voice accounts to scam Linda Wheeler, an American.

He received the naira equivalent of the stolen funds through Ginux Global Nigeria Ltd’s Zenith Bank account, where he was the sole signatory.

“One of the counts read: ‘That you, Chima Hyginus Nkwocha…did fraudulently impersonate Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt…obtaining a cumulative sum of Three Hundred and Forty-Five Thousand Dollars ($345,000) from Linda Wheeler…thereby committing an offence contrary to Section 22(2) of the Cyber Crimes Act, 2015,’” the EFCC stated.

The EFCC prosecution, led by Lanre Adeola Olariwaju, presented evidence including the defendant’s extrajudicial statements, electronic devices, and forensic reports. The defense raised no objections, and all items were admitted as exhibits.

Nkwocha was arrested in August 2024 in Abuja after a tip-off to the EFCC’s Advanced Fee Fraud Section. Items recovered during the operation included a black Mercedes Benz ML 350, two gold necklaces, a gold bracelet, $2,200 in cash, N90,280,934 in his Zenith Bank account, properties in Lagos and Abuja, and luxury phones.

Justice Nwite sentenced Nkwocha to two years in prison with an option of a N2 million fine. Additionally, the court ordered the forfeiture of all recovered assets, including the Mercedes Benz, cash, properties, and gold jewelry, to the Federal Government of Nigeria as proceeds of crime.

“This conviction reaffirms our commitment to fighting cybercrime and ensuring justice is served,” said Dele Oyewale, EFCC’s Head of Media and Publicity. The court’s decision highlights the ongoing efforts to combat financial fraud and serve as a deterrent to future offenders.