Justice Daniel Osiagor of the Federal High Court in Lagos on Wednesday jailed two Chinese and directors of Genting International Co. Limited, Huang Haoyu, also known as Ken, and An Hongxu, to 46 years’ imprisonment each for their roles in a multi-billion-naira cybercrime and money laundering scheme.
While delivering the judgment, Justice Osiagor, gave the convicts an option of a N56 million fine and ordered them to undertake three days of community service.
He also ordered that they should be repatriated to China after serving their sentences and completing the service.
The Economic and Financial Crimes Commission (EFCC) in Lagos in December 2024 arrested Ken and An who were among 792 suspected Internet and cryptocurrency fraud suspects arrested.
However, a third defendant, Audu Friday, pleaded not guilty and will stand trial.
Their defence counsel, Bridget Omateno, told the court that Huang and An had decided to change their pleas from not guilty to guilty, and “we urge the court to direct that the charges be read to them afresh.”
Justice Osiagor granted the request for plea bargain.
After the seven-count charge was re-read, Huang and An pleaded guilty, while Friday maintained his innocence.
The EFCC prosecutor, Bilkisu Bala-Buharit old the court to convict the duo 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 added.
In his ruling, Justice Osiagor 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,” the judge ordered.
The court 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, and other electronic and household items.
The items were recovered from Oyin Jolayemi Street and Bishop Oluwole Street in Victoria Island, A.J. Marinho Drive, and Modupe Alakija Crescent in Ikoyi.
The defendants were accused of conspiracy n 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.
The prosecution 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 would resume 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.
