A Federal High Court in Lagos has sentenced two Chinese directors of Genting International Co. Limited to 46 years’ imprisonment each following their conviction for cybercrime and money laundering involving billions of naira.
Justice Daniel Osiagor handed down the verdict on Wednesday after Huang Haoyu (also known as Ken) and An Hongxu changed their pleas from not guilty to guilty. The convicts may pay a N56 million fine as an alternative to imprisonment. They must also complete three days of community service and will be deported to China after fulfilling their sentences.
Background of the Case
The two defendants were among 792 suspects arrested by the Economic and Financial Crimes Commission (EFCC) in Lagos in December 2024 during a major operation targeting internet and cryptocurrency fraud.
A third defendant, Audu Friday, maintained his not guilty plea and will proceed to trial.
Court Proceedings
Defence counsel Bridget Omateno informed the court that Huang and An wished to change their pleas. The seven-count charge was re-read, and both men pleaded guilty while Friday continued to profess his innocence.
EFCC prosecutor Bilkisu Bala-Buhari requested maximum sentences to deter others from similar crimes, noting that some charges carry life imprisonment while others carry 14-year terms.
Asset Forfeiture
The court approved the forfeiture of extensive assets recovered during the investigation, including:
- 1,596 mobile phones
- 2,120 office chairs and 544 office tables
- 194 routers and 43 computer systems
- A network server and 126 air-conditioning units
- Generators, vehicles, mattresses, bunk beds, and thousands of SIM cards
These items were seized from multiple high-end locations in Victoria Island and Ikoyi.
The Charges
According to the prosecution, the defendants conspired in 2024 to illegally access computer systems and recruited Nigerian youths to impersonate foreign nationals online for financial gain—activities that threaten Nigeria’s economic and social stability under the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015.
The money laundering charges included:
- Retaining $1,262,000 USDT in a Binance wallet
- Retaining $1,300,203 USDT in a Bybit wallet
- Holding N3.4 billion in Genting International’s Union Bank account
- Transferring N913.9 million to fugitive associate Duliang Pan
- Transferring N106.95 million to Lagos Oriental Hotel Limited
Next Steps
Legal proceedings will continue against Audu Friday and Genting International Co. Limited on separate charges related to unlawful foreign exchange transactions and failure to comply with statutory declarations to the Special Control Unit Against Money Laundering.
