The Economic and Financial Crimes Commission (EFCC) has commenced the prosecution of suspects arrested in its landmark operation targeting cryptocurrency investment fraud and romance scams. On Friday, the EFCC arraigned 13 Chinese nationals and a company, Genting International Co. Limited, before Justice Deinde Dipeolu at the Federal High Court in Lagos.
Thank you for reading this post, don't forget to subscribe!In the aftermath of the sweeping arrests made in December 2024, the EFCC continues its crackdown on foreign nationals involved in financial crimes. The 13 Chinese nationals were charged under Sections 18 and 27 of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended in 2024). They stand accused of accessing computer systems with the intent to destabilize Nigeria’s constitutional framework, as well as employing Nigerian youths in identity theft operations to deceive victims for financial gain.
The court proceedings, led by EFCC’s Director of Legal Affairs, Larry Peters Aso, and Bilkisu Buhari-Bala, were conducted with the aid of an interpreter to read the charges in Mandarin. All defendants pleaded not guilty. One defendant, Wang Zheng Ming, requested time to hire his own legal representation. The case has been adjourned to February 3, 7, 14, and 21 for trial, with the defendants remanded in the Nigeria Correctional Centre while their bail applications are considered.
This prosecution follows the EFCC’s December 2024 announcement of the arrest of 792 suspects, including 148 Chinese nationals, for their involvement in cryptocurrency fraud and romance scams. The operation was carried out at a high-rise building in Victoria Island, Lagos, which was used by the syndicate to train Nigerian accomplices in criminal activities.
EFCC Director of Public Affairs, Wilson Uwujaren, highlighted that this breakthrough challenges the misconception that Nigerians are solely behind fraud operations, revealing that foreigners are exploiting Nigeria’s reputation to facilitate their illegal activities. The EFCC assures the public that it will continue to dismantle such criminal operations across the country.
