Two Nigerian nationals and a third accomplice have been sentenced to a combined 28 years and nine months in prison after orchestrating a sophisticated cryptocurrency fraud that defrauded victims of nearly £5 million.
The convicts, Anthony Ikenwe, 29, Kevin Nwamma, 25, and Hamza Bashir, 23, were sentenced at Southwark Crown Court after being found guilty of conspiracy to commit fraud and money laundering.
According to investigators, the trio posed as police officers and contacted victims, falsely claiming their cryptocurrency accounts had been compromised.
The victims were persuaded to disclose sensitive account credentials or transfer their digital assets into what they believed were secure accounts. The accounts, however, were controlled by the fraudsters.
Police said the group obtained victims’ personal information from the dark web and created fake websites designed to mimic legitimate cryptocurrency platforms.
They also impersonated employees of cryptocurrency companies and operated fraudulent technical support services to convince victims that the scheme was genuine.
During the investigation, detectives recovered a video showing one of the suspects speaking with a victim while receiving real-time instructions from a co-conspirator via Snapchat. One of the messages reportedly read: “Tell him to try with old pass.”
Authorities said the proceeds of the fraud were used to finance extravagant lifestyles, including luxury holidays, designer watches, high-end vehicles and shopping sprees at luxury stores such as Harrods.
Investigators confirmed that at least eight victims lost almost £5 million in cryptocurrency but believe the actual number of victims could be significantly higher.
The investigation, which began
