The Federal High Court in Abuja has sentenced Chima Hyginus Nkwocha, known as “Young Billionaire,” to two years in prison for internet fraud and money laundering.
The court also ordered the forfeiture of his assets, which include luxury cars, properties, cash, and electronic devices.
Nkwocha was charged by the EFCC for defrauding an American woman of $345,000 through impersonation on Gmail and Google Voice.
He received the money through a bank account linked to his company, Ginux Global Nigeria Ltd.
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Arrested in August 2024, Nkwocha’s assets included a Mercedes Benz ML 350, gold jewelry, and properties in Lagos and Abuja.
The court admitted evidence presented by the EFCC, which included his confession, electronic devices, and financial documents.
Justice Emeka Nwite offered Nkwocha a two-year sentence or a fine of ₦2 million, while ordering the forfeited items to be handed over to the federal government.
