The Economic and Financial Crimes Commission (EFCC) has secured the conviction of one Chima Hyginus Nkwocha, also known as “Young Billionaire,” for cheating by impersonation and money laundering. Nkwocha was sentenced to 2 years in prison by Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on December 31, 2024.
Nkwocha was arrested in August 2024 in Abuja following an investigation by the EFCC’s Advanced Fee Fraud Section. He was found guilty of impersonating Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt to defraud Linda Wheeler, an American, for $345,000.
The court also ordered the forfeiture of several items, including:
– *A black Mercedes Benz ML 350*
– *Gold jewellery and $2,200 cash*
– *N90,280,934.00 in a Zenith Bank account*
– *Properties in Lagos, Abuja, and Lekki*
– *Zenith Bank drafts and electronic devices*
Nkwocha pleaded guilty to the charges and was given an option of a fine of N2,000,000.