Fraudster Forfeits N40 million in Bitcoins and iPhones to the Nigerian FG.

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1.982, 022, 84 units of Bitcoin, valued at N40 million and belonging to a suspected online fraudster, were ordered to be permanently forfeited to the Federal Government by a Federal High Court in Lagos.

Additionally, Justice Nicholas Oweibo ruled that an alleged internet fraudster, Alkali Tanimu, also known as Yahoo Boy; must surrender his iPhone 12 Pro Max, iPhone 7, and all money found in his two bank accounts.

The listed items were subject to an interim order of forfeiture from the court on July 19, 2022; which have since been fully forfeited to the federal government. It was claimed that Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. was the legal basis for the application.

The things sought to be forfeited, according to him, are reasonably suspected to constitute the proceeds of criminal conduct; and the court is authorized in, Section 17 of the Advance Fee Fraud Act of 2006, he said.


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