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Three UK Men Jailed for $5.4 Million Crypto Scam Impersonating Police

GateNews
Enforcement Actions
According to Metropolitan Police, three men in the UK were sentenced Thursday (July 17) for defrauding victims of more than £4 million ($5.4 million) in cryptocurrency by impersonating police officers and directing them to fake websites. Anthony Ikenwe, 29, received six years for conspiracy to commit fraud and five years for money laundering; Hamza Bashir, 23, was sentenced to three years and nine months for fraud and three years for money laundering; Kevin Nwamma, 25, received six years for fraud and five years for money laundering. The gang lured eight victims to convincing fake police websites to steal their crypto holdings, then laundered the funds through complex financial networks and used the proceeds to purchase luxury cars, designer clothes, and Rolexes. Investigators traced over £1 million ($1.34 million) in crypto and recovered approximately £500,000 ($673,150) in cash from a Dubai safety deposit box.
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