The Federal High Court in Lagos has sentenced two Chinese nationals to a combined 92 years in prison for their roles in a large-scale cybercrime and money laundering operation uncovered by the Economic and Financial Crimes Commission (EFCC).
Justice Daniel Osiagor on Wednesday convicted Huang Haoyu, also known as Ken, and An Hongxu — directors of Genting International Co. Limited — sentencing them to 46 years’ imprisonment each.
The court also gave the convicts the option of a N56 million fine each, ordered three days of community service, and directed that they be repatriated to China after serving their jail terms.
EFCC Arrest and Guilty Plea in Major Cybercrime Crackdown
Huang and An were among 792 suspected internet and cryptocurrency fraud suspects arrested by EFCC operatives in Lagos in December 2024 during a sweeping anti-cybercrime operation.
Initially, the defendants pleaded not guilty. However, during Wednesday’s proceedings, their defence counsel, Bridget Omateno, informed the court that the two had decided to change their pleas to guilty.
“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.
After the seven-count charge was re-read, both men pleaded guilty. A third defendant, Audu Friday, maintained his innocence and will proceed to trial.
Court Imposes 46-Year Sentence, N56m Fine Option
EFCC prosecutor Bilkisu Bala-Buhari urged the court to impose the maximum sentence, noting that counts one and two carried life imprisonment, while counts three and four attracted 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 judgment, Justice Osiagor sentenced each defendant to a cumulative 46 years in prison, with the option of a N56 million 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 ruled.
N3.4 Billion Fraud, Cryptocurrency Laundering via Binance and Bybit
According to court documents, the defendants conspired in 2024 to:
Illegally access computer systems
Recruit Nigerian youths to impersonate foreign nationals online
Launder proceeds of fraud through cryptocurrency platforms
The prosecution revealed that the convicts retained:
$1,262,000 USDT in a Binance wallet
$1,300,203 USDT in a Bybit wallet
N3,407,824,740.78 in Genting International’s Union Bank account
The funds were believed to be proceeds of unlawful online financial activities, in violation of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended).
The court also heard that:
N913.9 million was transferred to an associate, Duliang Pan, who remains at large
N106.95 million was paid to Lagos Oriental Hotel Limited
Massive Asset Forfeiture to Federal Government
The court granted the EFCC’s application 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 and vehicles
Hundreds of mattresses and bunk beds
Thousands of SIM cards across multiple networks
The assets were recovered from properties in:
Oyin Jolayemi Street, Victoria Island
Bishop Oluwole Street, Victoria Island
A.J. Marinho Drive
Modupe Alakija Crescent, Ikoyi
Separate Charges Still Pending
Proceedings will continue against Audu Friday and Genting International Co. Limited on separate charges related to:
Unlawful foreign exchange transactions
Failure to make statutory declarations to the Special Control Unit Against Money Laundering (SCUML)
The case marks one of the largest cybercrime convictions involving foreign nationals in Nigeria in recent years and reinforces the EFCC’s ongoing crackdown on internet fraud and cryptocurrency-related financial crimes.
