Billionaire Arrested By EFCC Over Alleged Internet Fraud, Money Laundering

The Economic and Financial Crimes Commission (EFCC) has arrested a billionaire, Hyginus Nkwocha, for alleged internet fraud and money laundering in Abuja.

The Commission’s spokesman, Dele Oyewale, said in a statement on Thursday in Abuja, that Nwokocha was arrested on Wednesday.

Oyewale said: “Nkwocha, 35, was arrested at Ever Green Estate, Lugbe, Abuja, following intelligence about his suspected involvement in internet fraud and money laundering.

“Items recovered from him include a sum of 2,200 dollars, an iPhone 15 Pro Max, a Samsung Galaxy S24 Ultra, a Samsung Galaxy S21 Ultra, an iPhone 13 Pro Max, and a MacBook.

“Other items recovered include a gold chain and pendant, a gold bracelet, a gold neck chain, Mercedes Benz ML 350, a Chevrolet Camaro, and a Mustang car.

“Also recovered are some properties at Cookies Court 2, located in Ocean Palm Estate, Ajah, Lagos; Unit C8, Lugbe Airport Road, Abuja; and Cookies Court 2, 2nd Avenue, Ocean Palm Estate, Ogombo, Lagos State.”

Oyewale said that investigations were still ongoing and the suspect would be charged to court as soon as investigations were concluded.