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Key with you:
- Charles Ubenna Nwadavid in Boston confessed to sending fraud and money washing.
- Between 2016 and 2019, washing funds from six American victims using a cryptocurrency.
- The transactions were processed via localbitcoins that were remotely accessible using Nwadavid overseas.
Nigerian national granted guilty at the Federal Court in Boston 25 June for charging related to the laundry of funds obtained through online romance fraudaccording to a declaration from the US law firm for Massachusetts district.
Charles Ubenna Nwadavid, 35, admitted that fraud with mail and two numbers of money washing. The prosecutors stated that he controlled cryptocurrency accounts used to move the funds of victims and access to them from overseas. His conviction is scheduled for 23 September.
A network of money washing romantic fraud bound to crypto
According to court documents, this system took place from 2016 to 2019 and included six American victims. Individuals were admitted through social media and dating platforms and convinced to send money under false pretexts such as medical emergency or legal fees.
The authorities stated that one victim of Massachusets unknowingly received funds from five others and then transferred the money to Nwadavid cryptocurrency.
Transactions were processed via localbitcoins, online platforms for peer-to-peer. Nwadavid reportedly managed transfers while abroad using online access credentials.
He was charged in January 2024 and arrested in April 2025 after arriving at the Dallas-Fort Worth Airport of the United Kingdom.
Security company accused of moving $ 123 million over Crypto
Australian authorities recently loaded Four people in connection with the alleged washing scheme for washing $ 190 million (~ $ 123 million) including cryptocurrency and security company GOLD COAST. The group moved illegal funds through courier services and transferred them to crypto and mixed them with legitimate business income.
The net used dead drops in multiple cities and air transport to move cash to Queensland. Some of the funds were transferred through car representation and sales promotion.
The authorities caught up with around $ 21 million (~ $ 13 million) to assets, including 17 real estate and several vehicles, and made 14 commands to inspect the Brisbane and Gold Coast.
Criminal active agencies expand cross-border coordination and monitoring of blockchain to monitor crypto-bound fraud. Platforms for Peer-to-peer and foreign exchanges often limit recovery, especially if the victims are used to move funds unknowingly.
The authorities warn that the tools for enforcement are still catching up. While blockchain data offers visibility, regulation gaps and technical capacity continue to prevent timely interventions.
Frequently asked questions (FAQ)
How was fraud structured in several victims?
The victims were accepted separately, but one was used to direct funds from the other. This layering technique helped to cover the source and goal of the money.
What conviction could Nwadavid face?
They face up to 20 years for each number, as well as fines, restitution and deportation in any sentence.
Are romantic fraud increasingly associated with crypto?
Yes. The enforcement of the right was observed by the growing trend of using cryptocurrency to wash the proceeds from fraud -based fraud.
Contribution Nigerian man confesses to washing $ 2.5 million in crypto from American victims He appeared for the first time Cryptonews.
