PORTLAND, Ore. – Two Nigerian nationals are facing serious federal charges after allegedly running a sophisticated online scam that bilked victims out of nearly $60,000 in Bitcoin. U.S. Attorney Billy J. Williams announced the 13-count indictment today, detailing a brazen scheme built on false promises and digital deception.
Onwuemerie Ogor Gift, 24, and Kelvin Usifoh, age unknown, are accused of conspiracy to commit wire fraud and money laundering, along with eleven counts of wire fraud itself. The indictment, filed April 18, 2019, paints a picture of a calculated operation designed to prey on the growing interest in virtual currency.
The scheme revolved around a network of websites – including www.wealthcurrency.com, www.boomcurrency.com, and www.merrycurrency.com – all promising investors a ludicrous 20-50 percent return on their Bitcoin investments with absolutely zero risk and instant withdrawals. According to the indictment, Gift and Usifoh actively solicited victims to transfer their Bitcoin to private virtual currency wallets, spinning a web of lies about “unique trading methods” and “constant high interest rates.” They even went so far as to fabricate a false persona using a photo of a fourth, unsuspecting individual to bolster their credibility.
Between December 2017 and June 2018, the pair allegedly targeted three victims – one in Oregon and two in California. The indictment alleges they stole 10.88 bitcoins, worth approximately $59,000 at the time, from these individuals. Federal investigators believe the total haul exceeded 50 bitcoins. After receiving the Bitcoin, Gift and Usifoh allegedly transferred the funds through multiple accounts before ultimately exchanging it for Nigerian Naira, effectively laundering the stolen funds.
The FBI led the investigation, and Assistant U.S. Attorney Quinn P. Harrington is prosecuting the case. While the indictment represents a significant step forward, it’s crucial to remember that it is merely an accusation. Both Gift and Usifoh are presumed innocent until proven guilty in a court of law. The SEC also issued an Investor Alert today, warning the public about similar scams involving digital assets and advisory businesses.
This case serves as a stark reminder of the dangers lurking in the rapidly evolving world of cryptocurrency. Grimy Times will continue to follow this case as it unfolds, bringing you the raw, unfiltered truth about federal crime. Investors are urged to exercise extreme caution and thoroughly vet any investment opportunity, especially those promising unrealistic returns.
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Key Facts
- State: Oregon
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Cybercrime|White Collar Crime
- Source: Official Source ↗
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