Two Nigerians, accomplice jailed in UK over £5 million cryptocurrency fraud
Three Sentenced in £5 Million Cryptocurrency Fraud Scheme
Southwark Crown Court – Two Nigerian nationals and a third accomplice received a combined sentence of 28 years and nine months for their roles in a sophisticated cryptocurrency fraud that defrauded victims of nearly £5 million.
Anthony Ikenwe, 29, Kevin Nwamma, 25, and Hamza Bashir, 23, were convicted of conspiracy to commit fraud and money laundering. The sentencing occurred at Southwark Crown Court, where all three were found guilty of orchestrating the elaborate scheme.
According to law enforcement, the trio impersonated police officers to contact victims, falsely asserting that their cryptocurrency accounts had been compromised. Victims were misled into disclosing sensitive account information or transferring digital assets to accounts controlled by the fraudsters.
Investigators reported that the group harvested personal data from the dark web and created counterfeit websites that mimicked legitimate cryptocurrency platforms. They also acted as employees of cryptocurrency companies, running fraudulent technical support services to bolster the credibility of their scheme.
During the investigation, detectives recovered a video of one suspect communicating with a victim while receiving real-time instructions through Snapchat. One text allegedly stated, “Tell him to try with old pass.”
Authorities revealed that the proceeds from the fraud were used to support lavish lifestyles, including luxury vacations, designer watches, high-end vehicles, and shopping sprees at stores such as Harrods. At least eight victims reported losses totaling nearly £5 million in cryptocurrency, though officials believe the actual number of victims may be much higher.
The case was initiated in January 2025 and involved meticulous analysis of blockchain transactions, cryptocurrency exchange records, financial data, communication logs, and digital wallet information. Detectives noted that the evidence uncovered revealed an organized criminal network operating across various online platforms and jurisdictions.
Detective Inspector Geoff Donoghue of the Metropolitan Police’s Cryptocurrency Team characterized the operation as a complex investigation into a group that exploited the trust of victims by impersonating law enforcement. He emphasized that the case underscored the difficulty criminals face in using technology or digital assets to conceal their actions, reinforcing the Metropolitan Police’s dedication to pursuing cybercriminals.
Ikenwe and Nwamma each received concurrent sentences of six years for conspiracy to commit fraud and five years for money laundering. Bashir was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering, with both sentences also running concurrently.
In light of the convictions, police urged the public to remain vigilant regarding unsolicited calls related to their finances. Authorities recommended that individuals independently verify any claims with their bank or cryptocurrency service provider before sharing personal or financial information.
