Two Nigerian nationals and a third accomplice have been sentenced to prison in the United Kingdom for orchestrating a sophisticated cryptocurrency fraud that stole more than £4 million from eight victims.
According to the Metropolitan Police, the suspects posed as police officers and convinced victims that their cryptocurrency holdings were under threat. They persuaded the victims to transfer their digital assets into fake "secure police accounts," where the funds were immediately stolen and laundered through a complex financial network.
The convicted men—Anthony Ikenwe (29), Kevin Nwamma (25), both Nigerians, and Hamza Bashir (23)—were sentenced at Southwark Crown Court.
Ikenwe and Nwamma each received six years in prison for conspiracy to commit fraud and five years for money laundering, with both sentences to run concurrently. Bashir was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering, also to run concurrently.
Investigators revealed that the suspects used the proceeds of the fraud to finance luxurious lifestyles, purchasing high-end vehicles, Rolex watches, designer clothing, and taking lavish holidays to destinations including Thailand, Japan, the Maldives, Paris, Mykonos, and the Seychelles.
The Metropolitan Police launched the investigation in January 2025 after receiving reports from victims. Detectives traced blockchain transactions, financial records, and digital communications, uncovering an organized criminal network operating across multiple jurisdictions.
During coordinated raids in London and Essex in November 2025, officers arrested the suspects and recovered approximately £1 million linked to the stolen funds. Police also seized around 40 mobile phones, luxury goods worth more than £26,000, and significant cryptocurrency assets.
Authorities further discovered that the group purchased a vehicle worth nearly £60,000 using cryptocurrency and kept around £500,000 in cash inside a safety deposit box in Dubai.
The Metropolitan Police said investigations are continuing with international partners to identify additional suspects and recover more stolen assets for the victims.
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