Fraudulent digital assets linked to Chinese, Filipino nationals: EFCC secures interim forfeiture of $222,729.86

CITIZENS COMPASS – The Economic and Financial Crimes Commission (EFCC) has secured an interim forfeiture order for digital assets valued at $222,729.86, tied to fraudulent activities, allegedly, involving some foreign nationals including Chinese and Filipino.

Justice Alexander Owoeye of the Federal High Court granted the order in Lagos on February 2, 2025.

The forfeiture order followed a motion filed by Zeenat Atiku, a prosecutor with EFCC, under Section 44 (2)(B) of the 1999 Constitution (as amended) and Section 17 of the Advanced Free Fraud and Other Fraud-Related Offences Act No. 14, 2016.

The EFCC was also directed to publish the order in a national newspaper, allowing anyone with an interest in the assets to challenge the forfeiture within 14 days.

According to a deposition by EFCC investigator, Owolabi Taiwo, the commission received intelligence about a large-scale fraud operation involving foreign nationals based in Lagos.

A subsequent operation led to the arrest of 792 suspected cybercriminals and the seizure of approximately 1,000 routers, SIM cards, computers, and mobile phones, the commission said.

It said further investigation revealed that the suspects were part of a syndicate engaged in cryptocurrency fraud and dating scams, with operations financed through Genting International Co. Limited (GICL), a Nigerian-registered company.

The syndicate laundered illicit funds, including over $2.39 million in USDT, through peer-to-peer cryptocurrency trading.

The funds were traced to wallet addresses connected to fraudulent schemes.

Meanwhile, EFCC also arraigned 58 foreign nationals, including Chinese and Filipino nationals, on charges related to impersonation, fraud, and attempts to destabilise Nigeria’s constitutional structure.

The accused, who were arrested in December 2024, faced charges related to cybercrimes, cyber-terrorism, identity theft, and the employment of Nigerian youths for fraudulent activities.

The defendants were separately arraigned before Justice Ayokunle Faji, Justice Chukwujekwu Aneke, Justice Denide Dipeolu, and Justice Alexander Owoeye, respectively, and they all pleaded not guilty to the charges.

Some of the defendants arraigned before four separate courts, were Cherry De Leon (A.K.A Yesh De Leon), Khurram Shanzad, Fernad Fu Fang (A.K.A Kim), Tan Soon Kar, Rex Jose Dilag (A.K.A Madison), Jamal Polea, Jamilyn Jaynee Gonzalez (A.K.A Jam Galanza) and Hannah Jaramillo (A.K.A Max De Leon).

Others included Lin Haobo, An Hongxu (a.k.a Ruike), Shitou Shizilong, Pan Jiong, Zhow Kunji, Huang Xiao Liang (a.k.a Liu Xiao Liang), Peng Sen Lin (a.k.a Peng Song Lin, Pen Sen Ling, Dong Fang Hong, Huang Ren Jan, Shi Yang Xiong, Lu Yi Liang, Guo Giang (a.k.a Lisa), Wen Zong Xu, Pan Cai Yu, and Guo Zhi Yong.

After the charges were read to each defendant individually, they all pleaded not guilty.

Following their plea of not guilty, the court ordered that the defendants be remanded in the correctional centres.

The female defendants were remanded at Kirikiri Correctional Centre, while their male counterparts were remanded at the Ikoyi Correctional Centre.

Earlier, EFCC told the court that on or about December 18, 2024 in Lagos, the defendants, wilfully caused to be accessed computer systems organised to seriously destabilise the constitutional structure of Nigeria (which prohibited and prevented cyber and related crimes) when they procured/employed Nigerian youths for identity theft and to hold themselves (Nigerians) out as persons of foreign nationality, with the intent to gain financial advantage for themselves.

The commission also told the court that sometime in December 2024 at Lagos, the defendants wilfully gave false information to officers of EFCC in the course of investigation when they were being questioned for being part of a criminal syndicate group specialised in romance scam, crypto currency fraud, and cyber terrorism, among others.

According to EFCC, the offence committed is contrary to Section 18 and 27 of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (As Amended,2024), 39(2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, and punishable under Section 39(2) (b) of the same Act.