The Federal High Court in Lagos has convicted and sentenced two Chinese nationals; Huang Haoyu, alias Ken, and An Hongxu to 46 years’ imprisonment each for their roles in a multibillion naira cybercrime and money laundering scheme.
Both were directors of Genting International Company Limited.
Handing down the verdict on Wednesday, Justice Daniel Osiagor also gave the convicts an option of a N56m fine.
The court also ordered them to undertake three days of community service and directed that they be repatriated to China after serving their sentences and completing the service.
The duo were among 792 suspected Internet and cryptocurrency fraud suspects arrested by operatives of the Economic and Financial Crimes Commission in Lagos in December 2024.
Meanwhile, one of the defendants, Friday Audu pleaded not guilty and will stand trial.
During the proceedings, defence counsel, Bridget Omateno, informed the court that Huang and An had decided to change their pleas from not guilty to guilty.
Two Chinese nationals changed plea
“The first and third defendants have decided to change their pleas. We urge the court to direct that the charges be read to them afresh,” she said.
Though no plea bargain was reached, the court granted the request.
Then the seven-count charge was re-read, Huang and An pleaded guilty, while Friday maintained his innocence.
Prosecution Counsel to EFCC Bilkisu Bala-Buhari, urged the court to convict the two based on their admission of guilt.
“The prosecution had earlier called two witnesses before the change of plea,” she said, adding that counts one and two attract life imprisonment, while counts three and four carry 14-year jail terms.
“I humbly pray your lordship to impose the maximum sentence on the convicts in order to serve as a deterrent to the public,” she said.
In his ruling, the court convicted the two men and sentenced each to a cumulative 46 years in prison, with an option of a N56m fine.
“The convicts shall undertake three days of community service and shall be repatriated to their country of origin after serving their sentences and completing the community service,” Justice Osiagor ordered.
The judge also granted the prosecution’s request for the forfeiture of assets recovered during the investigation.
Items forfeited to the Federal Government include 1,596 mobile phones, 2,120 office chairs, 544 office tables, 194 routers, 43 computer systems, a network server, 126 air-conditioning units, generators, vehicles, hundreds of mattresses and bunk beds, thousands of SIM cards across different networks, other electronic and household items.
The items were recovered from multiple locations, including Oyin Jolayemi Street and Bishop Oluwole Street in Victoria Island, A.J. Marinho Drive, and Modupe Alakija Crescent, Ikoyi.
According to the charge, the defendants allegedly conspired in 2024 to unlawfully access computer systems and recruit Nigerian youths to impersonate foreign nationals online for financial gain, an act said to threaten Nigeria’s economic and social stability, contrary to the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, as amended.
They were also accused of laundering proceeds of fraud, including retaining $1,262,000 USDT in a Binance wallet and $1,300,203 USDT in a Bybit wallet.
EFCC further alleged that between August and December 2024, the defendants retained N3,407,824,740.78 in Genting International’s Union Bank account, funds believed to be proceeds of unlawful activities.
They were also said to have transferred N913.9m to an associate, Duliang Pan, who remains at large, and N106.95m to Lagos Oriental Hotel Limited.
Proceedings are expected to continue against Friday and the company on separate charges bordering on unlawful foreign exchange transactions and failure to make statutory declarations to the Special Control Unit Against Money Laundering.
