Two Nigerians and a third man have been jailed in the UK for defrauding eight victims of more than £4 million in cryptocurrency after impersonating police officers.
Chibuzor Ikenwe, 29, and Chukwuemeka Nwamma, 25, were each sentenced to 11 years in prison – six years for conspiracy to commit fraud and five years for money laundering.
Hamza Bashir, 23, received 6 years and 9 months – three years and nine months for conspiracy to commit fraud and three years for money laundering.
The trio contacted victims claiming their crypto assets were at risk. Posing as police officers, they convinced victims to hand over account details or transfer funds into what they called “secure police accounts.”
To make it convincing, the gang created fake police websites and ran the stolen money through a complex financial network to launder it.
The fraud was uncovered after victims reported it in January 2025.
Investigators used blockchain records, financial data and phone records to trace the suspects to an organised criminal network.
Detective Inspector Geoff Donoghue called them “calculated manipulators” who “exploited victims’ trust by pretending to be police officers and spent other people’s money to fund their extravagant lifestyles.”
Police arrested the suspects during coordinated raids across London and Essex. Officers recovered about £1 million linked to victims’ funds and seized 40 mobile phones, luxury goods and cryptocurrency assets.
Investigators said the gang spent the stolen money on luxury cars, Rolex watches, designer shopping and lavish holidays.
Despite this, one suspect had declared an annual income of just £444.
The case highlights a growing trend of crypto fraud where scammers impersonate authority figures to trick victims into giving up access to digital assets.