EXPOSED: Nec Bullion CEO Arrested by FBI in $2.5 Million Internet Fraud Scandal Involving American Victims | READ DETAILS

In a dramatic international development that has shaken Nigeria's business and political class, Uchenna Charles Nwadavid, the CEO of Abuja-based construction conglomerate Nec Bullion Concept, has been arrested by the United States Federal Bureau of Investigation (FBI) over alleged involvement in a multi-million dollar internet fraud and money laundering scheme targeting American citizens.

According to official U.S. court documents obtained by Peoples Gazette, Nwadavid was arrested on April 7, 2025, upon arrival at Dallas Fort Worth International Airport after flying in from London, unaware that a sealed grand jury indictment had been waiting for him for more than a year.

The 34-year-old Enugu State native was immediately detained by federal agents who had reportedly been tipped off about his travel itinerary ahead of his arrival.

U.S. authorities allege that Nec Bullion CEO Nwadavid masterminded a romance fraud scheme that ran between 2016 and 2019, defrauding multiple American women and using them as "money mulesÔÇØ to move illicit funds through complex channels, including cryptocurrency wallets. A total of $2.5 million was allegedly traced to the businessman's crypto accounts.

He made his initial court appearance in northern Texas on April 8, but details about when he would be transferred to face charges in Massachusetts, where the case is being prosecuted, remain unclear.

If convicted on charges of wire fraud and money laundering, Nwadavid could face up to 40 years in a U.S. federal prison.

Also linked to the scandal is his brother, Emmanuel Chijioke Nwadavid, a Nigerian politician and co-founder of the Nec Bullion Foundation. Emmanuel currently works with President Bola Tinubu's Minister of Innovation and Digital Economy, Uche Nnaji, who himself has been accused of certificate forgery. Neither Emmanuel nor his associates have responded to press inquiries following Uche's arrest.

The U.S. grand jury identified at least six American victims of Nwadavid's fraudulent activities residing in Massachusetts, Florida, New Jersey, and Kansas. These individuals, some of whom were reportedly emotionally manipulated through online relationships, were persuaded to testify before the grand jury that ultimately returned an indictment against him on January 23, 2024.

This arrest comes just five months after another high-profile Nigerian, Franklin Nwadialo-a former local government chairman in Anambra State-was arrested at Houston Airport over a separate $3 million romance scam. He was subsequently extradited to Seattle, Washington, to face trial.

The arrest of Nwadavid the CEO of Nec Bullion underscores the growing scrutiny Nigerian nationals face abroad over involvement in cybercrime, especially romance and financial scams targeting vulnerable individuals.

This incident is expected to cause ripples across Nigeria's elite circles, especially as questions arise about political protection, international travel loopholes, and the ability of indicted individuals to enter the United States while under sealed investigations.