How Nigerians Anthony Ikenwe, Kevin Nwamma pulled off multimillion-pound crypto heist in UK, end in jail

A gang who impersonated police officers to defraud eight victims of more than £4 million worth of cryptocurrency have been jailed following an investigation by the Met Police.

The three men, who claimed to be police officers, told their victims that their cryptocurrency was at risk and persuaded them to either provide account details or transfer the funds to what the victims believed were secure police accounts.

The “highly organised” gang had designed convincing-looking police websites, and the victim’s cryptocurrency was immediately stolen and then laundered through a complex financial network.

Detectives established during the investigation that the three men were living lavish lifestyles with the funds they had stolen, buying cars, designer clothes and Rolexes, as well as going on numerous luxury holidays, despite one of the men having a recorded income of £444 a year.

This was uncovered after victims came forward in January 2025 to report the fraud. An investigation was immediately launched, with officers using a data-driven approach to gather information from multiple sources, including blockchain transactions, communications, financial records, cryptocurrency exchange records, and internet service provider data, to establish the circumstances.

Detectives identified common aliases, telephone numbers, websites, cryptocurrency wallets, and spending patterns that linked what initially appeared to be separate offences, revealing an organised criminal network operating across multiple platforms and jurisdictions.

Detective inspector Geoff Donoghue, from the Metropolitan Police’s Cryptocurrency Team, said, “This was a highly complex investigation into a group of calculated manipulators who exploited victims’ trust by pretending to be police officers and spent other people’s money to fund their extravagant lifestyles.

“The Met’s Cryptocurrency Team painstakingly traced millions of pounds, combining a wide range of investigative techniques to dismantle a significant criminal network. Criminals should be under no illusion: policing is evolving alongside technology.

“We have the capabilities to trace and seize high-value assets, and we will do everything in our power to identify those responsible for these fraudulent crimes and bring them to justice.”

The fraudsters were sentenced at Southwark Crown Court on Thursday.

Mr Ikenwe, 29, of Bata Mews, East Tilbury, was sentenced to six years for conspiracy to commit fraud and five years for money laundering to run concurrently. Hamza Bashir, 23, of Beverley Way, Wimbledon, was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering to run concurrently. Mr Nwamma, 25, of Clarendon Road, Watford, was sentenced to six years for conspiracy to commit fraud and five years for money laundering to run concurrently.

On November 20, officers executed coordinated warrants at seven addresses across London and Essex, arresting all three members of the group and seizing numerous digital devices—including 40 mobile phones, luxury goods and cryptocurrency assets.

Officers subsequently recovered approximately £1 million directly linked to victim funds, while forensic examination of mobile phones and computers uncovered further evidence of the conspiracy.

They were all charged the following day, November 21, and have remained in custody ever since. Messrs Ikenwe and Nwamma pleaded guilty in April to conspiracy to defraud and to money laundering offences, including four counts of converting criminal property.

Mr Bashir initially denied involvement and stood trial before changing his plea to guilty during the eighth day of proceedings after being presented with substantial evidence. He was convicted of conspiracy to commit fraud and converting criminal property.

The investigation uncovered a lifestyle entirely inconsistent with the defendants’ declared income. Officers identified more than £1 million in cryptocurrency linked to wallets controlled by Mr Ikenwe.

Other examples of the group’s spending included a car worth almost £60,000 bought using cryptocurrency, approximately £500,000 in cash held in a safe deposit box in Dubai, as well as holidays to destinations such as Thailand, Japan, Paris, Mykonos, the Maldives and the Seychelles.

Police found financial records which showed cryptocurrency linked to the trio was routinely converted into payment cards.

The defendants took regular shopping trips to designer stores including Harrods, Hermès and Louis Vuitton, and treated themselves to hotels, restaurants and other lifestyle expenses, despite having little or no verified income. Luxury goods recovered during police searches were valued at more than £26,000.

Investigators traced criminal proceeds to Mr Nwamma by identifying transfers from wallets containing stolen cryptocurrency into bank accounts associated with his luxury chauffeur and transport business.