Two Nigerian nationals and their accomplice have been sentenced to a combined 28 years and nine months’ imprisonment in the United Kingdom for orchestrating a sophisticated cryptocurrency fraud that stole nearly £5 million from unsuspecting victims. The trio were convicted at Southwark Crown Court after investigators uncovered an elaborate scheme involving impersonation, fake websites and money laundering.
The convicts—Anthony Ikenwe (29), Kevin Nwamma (25) and Hamza Bashir (23)—posed as police officers and representatives of legitimate financial institutions to deceive victims into transferring large amounts of cryptocurrency. They created fake websites and used convincing social engineering tactics to gain the trust of their targets before diverting the digital assets into cryptocurrency wallets under their control.
Prosecutors told the court that the stolen cryptocurrency was subsequently laundered through a complex network of digital wallets and financial transactions in an attempt to conceal its origin. Investigators from the Metropolitan Police said the fraud affected multiple victims and highlighted the increasing sophistication of organised cybercriminals exploiting the growing popularity of digital currencies.
Following their convictions for conspiracy to commit fraud and money laundering, the court imposed lengthy prison terms, describing the offences as carefully planned and financially devastating to the victims. Authorities also recovered part of the stolen assets during the investigation, while efforts continue to trace and recover the remaining proceeds of the crime.
The Metropolitan Police urged members of the public to remain vigilant against online investment and cryptocurrency scams, advising investors to verify the identity of anyone requesting transfers of digital assets and to report suspicious activity immediately. Investigators warned that fraudsters are increasingly using fake law enforcement identities and convincing online platforms to target cryptocurrency holders.
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