U.S. Court Convicts Nigerian CEO Of $2.5 Million Romance Scam, Money Laundering

A federal court in Boston has convicted Charles Uche Nwadavid, a 35-year-old Nigerian businessman and CEO of Nec Bullion construction firm, for his involvement in a $2.5 million romance scam and international money laundering operation.

The conviction was confirmed on Thursday by U.S. Attorney Leah B. Foley and FBI Boston’s Special Agent in Charge, Ted E. Docks. Nwadavid pleaded guilty on Wednesday to multiple charges, including mail fraud, aiding and abetting money laundering, and substantive money laundering.

According to court records, between 2016 and September 2019, Nwadavid masterminded a network of romance scams using fake identities on online dating platforms. He lured victims—mainly vulnerable individuals—into emotionally manipulative relationships and convinced them to transfer large sums of money under false pretenses.

The funds obtained through the fraudulent schemes were then laundered through a complex web of bank accounts and businesses, including those linked to Nwadavid’s construction firm, Nec Bullion.

Authorities say the scam defrauded victims of more than $2.5 million, much of which was routed out of the United States.

“The defendant exploited the trust of innocent victims for personal gain and attempted to conceal his crimes through sophisticated laundering tactics,” said U.S. Attorney Foley. “This verdict sends a strong message that such criminal conduct will not go unpunished.”

Nwadavid is scheduled to be sentenced later this year. He faces significant prison time and possible restitution orders to his victims.