UK Jails Two Nigerians, One Other For £4m Crypto Scam

Three men, including two Nigerians, have been sentenced to prison in the United Kingdom after defrauding eight victims of more than £4 million (about ₦7.4 billion) in a cryptocurrency scam that involved impersonating police officers and laundering the stolen assets through a sophisticated financial network.

The Metropolitan Police, which announced the convictions in a statement, identified the convicts as Anthony Ikenwe, 29, Hamza Bashir, 23, and Kevin Nwamma, 25.

According to investigators, the trio contacted victims by telephone while pretending to be police officers, falsely claiming that their cryptocurrency accounts had been compromised.

The victims were persuaded to either provide access to their accounts or transfer their digital assets into what they believed were secure police-controlled wallets.

Instead, the cryptocurrency was immediately stolen and moved through a complex laundering network designed to conceal its origin.

“The three men called their victims claiming to be police officers, told them their cryptocurrency was at risk and persuaded them to either provide account details or transfer the funds to what the victims believed were secure police accounts,” the Metropolitan Police said.

“In fact, the highly organised gang had designed convincing looking police websites, and the victim’s cryptocurrency was immediately stolen and laundered through a complex financial network.”

The investigation was launched in January 2025 after several victims reported losing their cryptocurrency to the fraud.

Detectives used blockchain analysis, financial records, communications data, cryptocurrency exchange information and internet service provider records to unravel the operation.

They linked what initially appeared to be separate fraud cases by tracing common aliases, fake websites, cryptocurrency wallets, telephone numbers and spending patterns, eventually uncovering an organised criminal network operating across several jurisdictions.

Investigators said the suspects used proceeds from the fraud to fund lavish lifestyles despite having little or no legitimate income.

The stolen funds were allegedly spent on luxury vehicles, Rolex watches, designer clothing and expensive overseas holidays.

Police also disclosed that one of the defendants had an officially recorded annual income of only £444.

Detective Inspector Geoff Donoghue of the Metropolitan Police’s Cryptocurrency Team described the case as a major investigation into organised fraudsters who exploited public trust.

“This was a highly complex investigation into a group of calculated manipulators who exploited victims’ trust by pretending to be police officers and spent other people’s money to fund their extravagant lifestyles,” Donoghue said.

“The Met’s Cryptocurrency Team painstakingly traced millions of pounds, combining a wide range of investigative techniques to dismantle a significant criminal network.”

“Criminals should be under no illusion – policing is evolving alongside technology.

“We have the capabilities to trace and seize high-value assets, and we will do everything in our power to identify those responsible for these fraudulent crimes and bring them to justice,” he added.

The three men were sentenced at Southwark Crown Court on Thursday.

Ikenwe, of Bata Mews, East Tilbury, received six years’ imprisonment for conspiracy to commit fraud and five years for money laundering, with both sentences to run concurrently.

Nwamma, of Clarendon Road, Watford, was handed identical concurrent sentences.

Bashir, of Beverley Way, Wimbledon, was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering, with both terms also running concurrently.

The Metropolitan Police said coordinated raids carried out on November 20, 2025, at seven addresses across London and Essex resulted in the arrest of the suspects.

During the operation, officers seized about 40 mobile phones, cryptocurrency assets, luxury items and other digital devices.

Investigators also recovered approximately £1 million directly linked to the victims’ stolen funds, while forensic examinations of electronic devices uncovered extensive evidence of the conspiracy.

Police said Ikenwe and Nwamma pleaded guilty in April to conspiracy to defraud, money laundering offences and four counts of converting criminal property.

Bashir initially denied involvement but changed his plea to guilty on the eighth day of his trial after prosecutors presented what investigators described as substantial evidence against him.

The investigation also uncovered more than £1 million in cryptocurrency linked to wallets controlled by Ikenwe.

Officers further discovered that the group purchased a vehicle worth nearly £60,000 using cryptocurrency and kept about £500,000 in cash in a safety deposit box in Dubai.

Investigators also traced luxury holidays to Thailand, Japan, Paris, Mykonos, the Maldives and the Seychelles, along with spending at high-end retailers including Harrods, Hermès and Louis Vuitton.

Luxury goods valued at more than £26,000 were recovered during police searches.

The investigation further linked Nwamma to criminal proceeds after detectives traced transfers from cryptocurrency wallets containing stolen funds into bank accounts connected to his luxury chauffeur and transport business.

The Metropolitan Police said investigations are continuing with authorities in the UK and overseas to identify other members of the criminal network and recover more stolen assets for the victims.

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