The Federal Bureau of Investigation (FBI) has arrested Nigerian businessman Uchenna Charles Nwadavid, CEO of Nec Bullion Concept, for allegedly defrauding American citizens out of $2.5 million through a years-long fraud and money laundering scheme.
Court documents reviewed by Peoples Gazette reveal that Nwadavid, 34, was taken into custody on April 7 upon his arrival at Dallas Fort Worth International Airport from London. Authorities had been alerted to his travel plans and arrested him as he entered the U.S.
Nwadavid, who had been unaware of a grand jury indictment pending against him for over a year, was immediately detained upon his arrival. He made his first appearance in federal court in northern Texas on April 8. However, it is unclear when he will appear before a federal judge in Massachusetts, where he is set to face trial. The U.S. attorney’s office in Boston has not responded to requests for comment regarding the case.
The Abuja-based businessman, who is also involved in the Nec Bullion Foundation with his brother, politician Emmanuel Chijioke Nwadavid, is facing charges of internet fraud and money laundering. If convicted, he could face up to 40 years in prison.
The grand jury’s indictment, filed on January 23, 2024, does not specify the exact start date of Nwadavid’s fraudulent activities, but it appears the bulk of the scheme occurred between 2016 and 2019. Authorities say Nwadavid targeted women online, using them as “money mules” in his scam. A significant portion of the $2.5 million was traced to his cryptocurrency accounts.
At least six victims, from Massachusetts, Florida, New Jersey, and Kansas, have been identified, with authorities securing their testimonies for the grand jury proceedings. Nwadavid’s arrest follows that of Franklin Nwadialo, a Nigerian official arrested in 2023 on similar charges involving a romance scam totaling over $3 million.
Emmanuel Nwadavid, who works alongside Uche Nnaji, the tech minister’s associate involved in certificate forgery, has not responded to The Gazette’s request for comment regarding his brother’s arrest.
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