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EFCC recovers over $222K in USDT from romance and investment scam network
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Court grants final forfeiture after “Eagle Flush Operation” raids in Lagos
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9 Chinese suspects to be deported over cyber-terrorism convictions
A Federal High Court sitting in Ikoyi, Lagos has ordered the final forfeiture of $222,729.86 worth of USDT cryptocurrency traced to an international cybercrime syndicate involving Chinese nationals and their Nigerian accomplices.
The ruling by Justice Alexander Owoeye followed an ex-parte motion filed by the Economic and Financial Crimes Commission (EFCC), which uncovered the assets during a December 2024 operation codenamed “Eagle Flush.”
According to court filings, the syndicate ran elaborate cryptocurrency investment and romance scams, using a Nigerian front company, Genting International Co. Limited, to launder over ₦2.26 billion between April and December 2024.
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EFCC investigators disclosed that two local crypto vendors, Chukwuemeka Okeke and Alhassan Aminu Garba, admitted to receiving $2.38 million in USDT through peer-to-peer transactions for the syndicate.
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Justice Owoeye said:“I have reviewed the motion and supporting affidavits and find merit in the application. The assets are hereby forfeited to the Federal Government.”
The EFCC said this marks a major milestone in its crackdown on cybercriminals exploiting digital currencies for illicit financial flows.
In a related move, the court last week ordered the deportation of nine Chinese nationals convicted of cyber-terrorism and internet fraud in Lagos. They pleaded guilty and forfeited assets recovered from them as part of their sentencing.
