Three Men Jailed for £4M UK Crypto Fraud Posing as Police
In brief
- Three men jailed for posing as police and stealing £4 million in cryptocurrency from eight UK victims.
- Gang created fake police websites, phoned victims claiming to be officers, and tricked them into moving funds to fraudulent accounts.
- Stolen proceeds spent on Rolexes, luxury goods, and holidays across Thailand, Japan, Paris, Mykonos, Harrods, and Hermès.
- Officers recovered approximately £1 million tied to victims and seized luxury goods worth £26,000 across London and Essex raids.
- Anthony Ikenwe, 29, and Kevin Nwamma, 25, received six years each; Hamza Bashir, 23, received three years nine months.
The Scheme
The group built convincing fake police websites to support the impersonation. Victims received calls from the men claiming to be officers, who warned that their cryptocurrency holdings were at risk and persuaded them to either share sensitive account details or transfer funds to what appeared to be secure police accounts. The coins were immediately stolen and funneled through a complex laundering network, making recovery difficult.
The case began when victims came forward in January 2025. By November, officers raided seven addresses across London and Essex, arresting the three men and seizing luxury goods, cryptocurrency and 40 mobile phones. Officers recovered around £1 million tied to victims.
Lavish Spending and Convictions
Anthony Ikenwe, 29, and Kevin Nwamma, 25, were each sentenced to six years for conspiracy to commit fraud and five years for money laundering, to run concurrently. Hamza Bashir, 23, was handed three years and nine months for fraud and three years for laundering, also concurrent.
Officers linked more than £1 million in crypto to wallets controlled by Ikenwe. Stolen funds were traced flowing into bank accounts tied to Nwamma's luxury chauffeur business.
The men's spending patterns revealed the scale of their operation. They spent the proceeds on Rolexes, designer shopping and luxury holidays, visiting Thailand, Japan, Paris, Mykonos, the Maldives and the Seychelles. They shopped at Harrods, Hermès and Louis Vuitton. One had a recorded income of just £444 a year, yet the group bought a car worth almost £60,000 with crypto. The group kept around £500,000 in cash in a safety deposit box in Dubai. Luxury goods recovered in the searches were valued at more than £26,000.
Ikenwe and Nwamma pleaded guilty in April. Bashir denied involvement and stood trial, changing his plea on the eighth day after being shown extensive evidence.
