The Economic and Financial Crimes Commission (EFCC) has recorded a major milestone in its fight against cybercrime with the successful forfeiture of N90 million, $2,200, and several high-value properties tied to convicted fraudster Chima Hyginus Nkwocha, popularly known as “Young Billionaire.”
The Federal High Court in Abuja issued the ruling following Nkwocha’s conviction for charges of impersonation and money laundering.
Nkwocha was apprehended in August 2024 by the EFCC’s Advanced Fee Fraud Section, acting on credible intelligence. He was arrested in the Lugbe area of Abuja, where investigators linked him to an elaborate scheme involving the impersonation of foreign nationals.
The EFCC alleged that Nkwocha operated under various aliases, including Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, to defraud unsuspecting victims. One of his key victims, Linda Wheeler, an American citizen, was conned out of a staggering $345,000. Funds from the fraudulent activities were traced to a Zenith Bank account registered under Ginux Global Nigeria Ltd, a company solely controlled by Nkwocha.
Nkwocha was arraigned before Justice Emeka Nwite at the Federal High Court in Abuja, facing multiple counts of cybercrime and money laundering. The prosecution built a watertight case supported by:
- Nkwocha’s extrajudicial statements, where he admitted to the crimes.
- Digital forensic evidence retrieved from electronic devices.
- Bank transaction records linked to his illicit activities.
One of the charges presented to the court read:
“That you, Chima Hyginus Nkwocha (AKA Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt), sometime in 2022 in Abuja, within the jurisdiction of this Honourable Court, did fraudulently impersonate Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt on Gmail and Google Voice… with intent to defraud.”
In a December 2024 hearing, Nkwocha pleaded guilty to all charges. His counsel raised no objections to the evidence presented by the prosecution, enabling swift adjudication of the case.
Justice Nwite delivered the verdict on December 31, 2024, sentencing Nkwocha to two years in prison. However, the court provided an option for a ₦2 million fine in lieu of imprisonment. Additionally, all assets and properties acquired through his fraudulent activities were ordered forfeited to the Federal Government.
Recovered Assets
During Nkwocha’s arrest and subsequent investigation, the EFCC confiscated a trove of assets valued in the millions, including:
- A black Mercedes Benz ML 350, registration number B-2.
- Two gold necklaces with pendants and one gold bracelet.
- Cash totaling ₦90,280,934 and $2,200 held in accounts linked to Ginux Global Nigeria Ltd.
- A luxury three-bedroom terrace duplex at Cookies Court 2, Ocean Palm Estate, Ajah, Lagos.
- A three-bedroom bungalow and two self-contained apartments in Abuja.
- A plot of land measuring 300 square meters at Eko Beach City, Lekki Phase 1, Lagos.
- Two Zenith Bank drafts valued at ₦5 million and ₦3 million, issued in September and October 2024 respectively.
- Multiple high-end electronic devices, including an iPhone 13 Pro Max and Samsung Galaxy models.
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