Report: Nigerian Trio Allegedly Uses Money Laundering Proceeds to Buy Bitcoins Worth Over $43 Million

Three Nigerian nationals are accused of utilizing wealth laundering proceeds to bargain bitcoin worthy implicit $43 cardinal from cryptocurrency speech platforms similar Binance and Busha. The trio is accused of moving an equivalent of implicit $215 cardinal from Nigeria to Kenya betwixt October and November 2020.

Powerful Kenyan Politician Assists the Alleged Money Launderers

The planetary instrumentality enforcement agency, Interpol is seeking to reason a lawsuit wherever 3 Nigerian nationals are believed to person utilized wealth laundering proceeds to bargain bitcoins worthy implicit $43 million, a study has said. Three Kenyans including an unnamed almighty Kenyan person are accused of having aided the Nigerian trio successful their efforts to conceal the nonstop motive for moving the funds.

According to a report by the Kenyan publication, the Nation, a probe by Interpol recovered that the trio could person transferred implicit $215 cardinal (25 cardinal Kenyan shillings) from Nigeria to Kenya betwixt October and November 2020.

Once the funds were successful Kenya, the three, Olubunmi Akinyemiju, Olufemi Olukunmi Demuren and Eghosasere Nehikhare, went connected a bitcoin buying spree. During this buying spree, the trio is said to person acquired bitcoins that were astatine the clip valued astatine $36,353,728 from the U.S. registered subdivision of Binance, 1 of the largest cryptocurrency exchanges by traded volumes. A further $7,246,582 was utilized to bargain bitcoins connected Busha, different cryptocurrency exchange.

Authorities Freeze Six Bank Accounts

After acquiring the bitcoins, the trio is believed to person distributed the cryptos to idiosyncratic wallets arsenic portion of an effort to marque these untraceable, the study said. Still, the Kenyan work said it could not ascertain the nonstop fig of bitcoins the Nigerian trio had bought connected the Kenyan crypto speech Bitpesa and connected Quidax.

The study said the Nigerian trio had managed to successfully determination funds utilizing the pretext they were “same institution money transfers.” However, the size of the funds transfers yet aroused the involvement of Interpol.

Following the Interpol investigation, Kenya’s Assets Recovery Agency (ARA) is reported to person obtained a tribunal ruling which authorized it to frost six slope accounts belonging to six companies that are linked to the alleged wealth launderers.

Meanwhile, the Nation study identified Pauline Wanjiru Wachira and Evalyne Wawira Gachoki arsenic the 2 Kenyan citizens that whitethorn person aided the Nigerian trio to determination the laundered funds.

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