Invictus Obi Pleads Guilty To N4.2bn Fraud, To Spend 20 Years In Jail

Nigerian business owner of Invictus Group, Obinwanne Okeke better known as Invictus Obi, who was arrested last year in the United States for $11 million (N4.2 billion) fraud, has pleaded guilty.

Naija News reports that the Department of Justice, Eastern District of Virginia, says Invictus Obi, who initially pleaded not guilty and was remanded by different district court judges, will face a maximum of 20 years in prison.

“Okeke pleaded guilty to a conspiracy to commit wire fraud. Okeke faces a maximum penalty of 20 years in prison when sentenced on October 22. Actual sentences for federal crimes are typically less than the maximum penalties.

“A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.”

This online news platform recalls that Invictus Obi was arrested in August 2019 as he was about leaving the United States for Nigeria and held in jail for several months. He and other conspirators were accused of targeting American businesses.

Meanwhile, Unatrac, a subsidiary of heavy equipment giant Caterpillar, was amongst the companies said to have been targeted by Invictus Obi who specialized in a business email compromise scheme for several years, the court document says.