The CEO of a high Nigerian firm Nec Bullion has been arrested by the FBI within the U.S. for allegedly orchestrating a $2.5 million web fraud scheme. You gained’t imagine the total particulars of the way it all occurred. Click on to learn the total story.
In a dramatic worldwide improvement that has shaken Nigeria’s enterprise and political class, Uchenna Charles Nwadavid, the CEO of Abuja-based development conglomerate Nec Bullion Idea, has been arrested by america Federal Bureau of Investigation (FBI) over alleged involvement in a multi-million greenback web fraud and cash laundering scheme concentrating on Americans.
In accordance with official U.S. court docket paperwork obtained by Peoples Gazette, Nwadavid was arrested on April 7, 2025, upon arrival at Dallas Fort Price Worldwide Airport after flying in from London, unaware {that a} sealed grand jury indictment had been ready for him for greater than a yr.
The 34-year-old Enugu State native was instantly detained by federal brokers who had reportedly been tipped off about his journey itinerary forward of his arrival.
U.S. authorities allege that Nec Bullion CEO Nwadavid masterminded a romance fraud scheme that ran between 2016 and 2019, defrauding a number of American ladies and utilizing them as “cash mules” to maneuver illicit funds via complicated channels, together with cryptocurrency wallets. A complete of $2.5 million was allegedly traced to the businessman’s crypto accounts.
He made his preliminary court docket look in northern Texas on April 8, however particulars about when he could be transferred to face fees in Massachusetts, the place the case is being prosecuted, stay unclear.
If convicted on fees of wire fraud and cash laundering, Nwadavid may resist 40 years in a U.S. federal jail.
Additionally linked to the scandal is his brother, Emmanuel Chijioke Nwadavid, a Nigerian politician and co-founder of the Nec Bullion Foundation. Emmanuel at the moment works with President Bola Tinubu’s Minister of Innovation and Digital Economic system, Uche Nnaji, who himself has been accused of certificates forgery. Neither Emmanuel nor his associates have responded to press inquiries following Uche’s arrest.
The U.S. grand jury recognized no less than six American victims of Nwadavid’s fraudulent actions residing in Massachusetts, Florida, New Jersey, and Kansas. These people, a few of whom have been reportedly emotionally manipulated via on-line relationships, have been persuaded to testify earlier than the grand jury that finally returned an indictment in opposition to him on January 23, 2024.
This arrest comes simply 5 months after one other high-profile Nigerian, Franklin Nwadialo—a former native authorities chairman in Anambra State—was arrested at Houston Airport over a separate $3 million romance rip-off. He was subsequently extradited to Seattle, Washington, to face trial.
The arrest of Nwadavid the CEO of Nec Bullion underscores the rising scrutiny Nigerian nationals face overseas over involvement in cybercrime, particularly romance and {financial} scams concentrating on susceptible people.
This incident is predicted to trigger ripples throughout Nigeria’s elite circles, particularly as questions come up about political safety, worldwide journey loopholes, and the flexibility of indicted people to enter america whereas beneath sealed investigations.
