The Federal High Court in Lagos on Wednesday sentenced two Chinese directors of Genting International Co. Limited, Huang Haoyu (aka Ken) and An Hongxu, to 46 years in prison each for their involvement in a multi-billion-naira cybercrime and money laundering scheme.
Justice Daniel Osiagor gave them an option of a ₦56 million fine, ordered three days of community service, and ruled that they would be repatriated to China after serving their sentences and completing the service.
The duo were among 792 suspected internet and cryptocurrency fraudsters arrested by the EFCC in December 2024. At the proceedings, they changed their plea from not guilty to guilty, while a third defendant, Audu Friday, maintained his innocence and will face trial separately.
EFCC prosecutor Bilkisu Bala-Buhari urged the court to impose maximum sentences, noting that the charges carried life imprisonment for some counts. Justice Osiagor also approved the forfeiture of assets recovered during the investigation, including thousands of phones, office equipment, electronic devices, vehicles, and other household items.
The defendants were accused of recruiting Nigerian youths to impersonate foreign nationals online for financial gain, laundering fraud proceeds—including over $2.5 million in cryptocurrency and over ₦3.4 billion in Genting International’s bank accounts—and transferring millions to associates.
Further proceedings are ongoing against Friday and Genting International on charges related to unlawful foreign exchange transactions and statutory declaration failures.