A United Kingdom court has sentenced three men, including two Nigerians, to a combined 28 years and nine months in prison for stealing nearly five million pounds worth of cryptocurrency in an elaborate fraud scheme.
Anthony Ikenwe, Hamza Bashir and Kevin Nwamma were convicted at Southwark Crown Court for conspiracy to commit fraud and money laundering.
Prosecutors said the trio posed as police officers and cryptocurrency company officials, deceiving victims into handing over sensitive account details or transferring digital assets to accounts they claimed were created for protection.
Investigators said the fraudsters used information obtained from the dark web, fake cryptocurrency websites and false technical support channels to gain access to victims’ accounts.
Police recovered evidence showing one of the suspects communicating with a victim during a scam call while receiving instructions from an accomplice through Snapchat.
The proceeds were allegedly used to fund luxury lifestyles, including holidays, designer items, expensive cars and shopping trips.
The Metropolitan Police said eight known victims lost almost £5 million in cryptocurrency, but the actual number of affected people could be higher. Detectives traced blockchain transactions, financial records and digital communications to uncover the organised network behind the fraud.
Detective Inspector, Geoff Donoghue, of the Met’s Cryptocurrency Team said the investigation showed that criminals cannot hide behind technology and would be pursued.
Ikenwe and Nwamma were each sentenced to six years for conspiracy to commit fraud and five years for money laundering, while Bashir received three years and nine months for fraud and three years for money laundering.
Police have urged the public to be cautious of unsolicited calls involving financial accounts and to verify information directly with banks or service providers before sharing personal details.
