Inside the Billion-Naira Fraud Hub: Two Chinese Nationale Convicted in Lagos

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Following a major raid by the EFCC that saw nearly 800 suspects arrested, two Chinese directors have pleaded guilty to running a high-tech crime ring from luxury offices in Victoria Island and Ikoyi.

The Staggering Seizures: To show the scale of the operation, the court ordered the government to take over a massive list of items found at their hideouts. The "haul" included:

  • Thousands of Gadgets: Over 1,500 mobile phones and thousands of SIM cards.

  • Office Equipment: Hundreds of tables, chairs, and over 120 air conditioners used to run the fraud center.

  • Real Estate: Luxury properties on Oyin Jolayemi and Bishop Oluwole Streets in Victoria Island.

  • Crypto Wealth: Over $2.5 million found in digital wallets (Binance and Bybit).

How They Got Caught: The men initially said they were innocent but changed their plea to "guilty" during the trial. While they head to prison, a third person involved, a Nigerian named Audu Friday, has maintained he is innocent and will still face his own trial.

The judge made it clear that the heavy sentence was intended to serve as a "deterrent"—a warning to anyone else thinking of using Nigeria as a base for international cybercrime.

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