Justice Daniel Osiagor of the Federal High Court in Lagos on Wednesday sentenced two Chinese nationals and directors of Genting International Co. Limited, Huang Haoyu, also known as Ken, and An Hongxu, to 46 years’ imprisonment each, or an option of a N56 million fine, for their roles in a multi-billion-naira cybercrime and money laundering scheme.

The court also ordered the convicts to perform three days of community service and directed that they be repatriated to China after serving their sentences.

Huang and An were among 792 suspected internet and cryptocurrency fraud suspects arrested by the Economic and Financial Crimes Commission (EFCC) in Lagos in December 2024.

A third defendant, Audu Friday, pleaded not guilty and will continue to face trial.

During today’s proceedings, counsel for Huang and An, Bridget Omateno, informed the court that her clients had decided to change their pleas from not guilty to guilty.

The court re-read the seven-count charge, after which Huang Haoyu and An Hongxu formally pleaded guilty, while Audu Friday maintained his not guilty plea.

Prosecution counsel Bilkisu Buhari-Bala urged the court to impose maximum sentences, noting that counts one and two carry life imprisonment, while counts three and four carry 14-year terms.

She also requested the forfeiture of all assets recovered during the investigation, including properties in Victoria Island and Ikoyi, to the Federal Government.

Justice Osiagor upheld the prosecution’s requests, sentencing Huang and An to 46 years each, with the option of a N56 million fine, three days of community service, and repatriation upon completion of their sentences.

Proceedings against Audu Friday will continue.

The court also ordered the forfeiture of extensive assets recovered from multiple locations in Victoria Island and Ikoyi.

These include 1,596 mobile phones, 2,120 office chairs, 544 office tables, 194 routers, 43 computers, a network server, 126 air conditioners, generators, vehicles, hundreds of mattresses and bunk beds, thousands of SIM cards, and numerous other electronic and household items.

According to the charge, the defendants conspired in 2024 to access computer systems with the intent to destabilize Nigeria’s economic and social structures.

They allegedly employed Nigerian youths to impersonate foreign nationals for financial gain, retained over $2.5 million in cryptocurrency wallets, and laundered more than N3.4 billion through Genting International Co. Limited’s accounts.

Additional funds were allegedly transferred to an account belonging to Duliang Pan, currently at large, and N106.95 million to Lagos Oriental Hotel Limited.

Separate counts against Audu Friday and the company alleged unlawful foreign exchange transactions running into billions of naira, contrary to the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act, and failure to submit required declarations to the Special Control Unit Against Money Laundering (SCUML). (THISDAY)

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