British Fake Police Gang Sentenced for Stealing $5.4 Million in Cryptocurrency

Odaily Odaily A group of individuals in the UK, who posed as police officers and created a fake police website, convinced cryptocurrency holders via telephone to transfer their funds into so-called "safe accounts," resulting in the theft of $5.4 million worth of cryptocurrency. They were sentenced this week. Hamza Bashir (23), Kevin Nwamma (25), and Anthony Ikenwe (29) received prison terms of six years and nine months, eleven years, and eleven years, respectively. The stolen funds were used to purchase luxury items, including a car worth £60,000, vacations to destinations such as Thailand and Japan, and merchandise from brands including Harrods, Hermès, Louis Vuitton, and Rolex. Police also discovered £500,000 in cash inside a safe and determined that most of the stolen cryptocurrency had been converted into payment cards. Gang members also falsely declared their annual income, with one individual declaring only £444.