EFCC Convicts ‘Young Billionaire’ for Defrauding American Woman of $345,000

The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Chima Hyginus Nkwocha, popularly known as “Young Billionaire,” on charges of impersonation and money laundering. Nkwocha was sentenced on Tuesday, December 31, 2024.

He appeared before Justice Emeka Nwite at the Federal High Court in Maitama, Abuja, facing a two-count charge related to fraudulent impersonation and money laundering. One of the charges detailed that Nkwocha, under the aliases Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, used Gmail and Google Voice accounts to defraud an American, Linda Wheeler, of $345,000 in 2022. He received the equivalent sum in naira through Ginux Global Nigeria Limited’s Zenith Bank account, where he was the sole signatory.

Nkwocha pleaded guilty to the charges when they were read in court. Prosecution counsel, Lanre Adeola Olanrewaju, presented evidence and requested the court to convict the defendant. Olanrewaju explained that Nkwocha was arrested in August 2024 in Abuja’s Lugbe area following intelligence from the EFCC’s Advanced Fee Fraud Section.

During the arrest, authorities recovered several items, including a black Mercedes Benz ML 350, two gold necklaces with pendants, one gold bracelet, $2,200 in cash, and over ₦90 million in a Zenith Bank account. Additional assets included properties in Lagos and Abuja, bank drafts worth ₦5 million and ₦3 million, luxury electronic devices, and a plot of land in Lekki Phase 1.

Nkwocha admitted to impersonating multiple identities online to carry out his fraudulent activities. The EFCC presented evidence such as extrajudicial statements, forensic investigation reports, and electronic devices, which the court admitted without objection from the defense.

Justice Nwite found Nkwocha guilty based on the EFCC’s submissions. He sentenced him to two years imprisonment with an option of a ₦2 million fine. Additionally, the court ordered the forfeiture of all assets linked to the crime, including the luxury car, jewellery, properties, and funds, to the Federal Government.