Three individuals have been convicted and sentenced for internet fraud and money laundering in Maiduguri, Borno State, Nigeria, with one of the cases involving Bitcoin transactions – underscoring the continued use of crypto in illicit financial activities in Nigeria.
Justice K. Dagat of the Federal High Court handed down the rulings on June 18 2025, sentencing Enoch Adebayo Richard, Samdave Megwah (aka glorycyberfix), and Abdusalam Hassan to eight years imprisonment each, with an option of fines.
Details of the Case:
Samdave Megwah was found to have received Bitcoin and gift cards worth $600, which were converted into ₦900,000 and deposited into his Access Bank account.
Enoch Adebayo Richard received USD-denominated Cash App and gift cards, totaling ₦38,000.
Abdusalam Hassan possessed ₦451,000 in naira-equivalent proceeds from Cash App, PayPal, and gift cards.
Three Internet Fraudsters Bag Jail Terms in Maiduguri
Justice K. Dagat of the Federal High Court Maiduguri, Borno State on Wednesday, 18 June 2025 convicted and sentenced the trio of Enoch Adebayo Richard, Samdave Megwah(a.ka.a glorycyberfix) and Abdusalam Hassan to eight… pic.twitter.com/RkWUa41G5j
— EFCC Nigeria (@officialEFCC) June 20, 2025
The Economic and Financial Crimes Commission (EFCC) brought charges of impersonation and money laundering, citing that the accused knowingly received proceeds from fraudulent activities.
Upon their guilty pleas, the court ordered:
Forfeiture of the illicit funds
Confiscation of digital devices, including iPhones, Redmi phones, a Dell desktop, and Samsung Galaxy devices
Optional fines of ₦100,000 per count for each individual
This case adds to the growing list of financial crimes in Nigeria where Bitcoin and other digital assets are used to obscure transactions and bypass traditional financial scrutiny. Authorities have repeatedly flagged the role of gift cards, digital wallets, and crypto in scams targeting foreign victims.
REGULATION | Additional Level of Due Dilligence Needed Before We Announce Next Set of Provisional Crypto Licenses, Says Nigeria SEC Chief
The commission is collaborating with @officialEFCC, NFIU, and ONSAhttps://t.co/54gwAOeiq4 @SECNigeria pic.twitter.com/yHtzs87CG6
— BitKE (@BitcoinKE) April 16, 2025
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