Invictus Obinwanne Okeke, the Nigerian businessman charged by the U.S. Federal Investigation Bureau, has pleaded guilty to fraud charges of $11 million (N4.2 billion).

In August 2019 the Forbes-celebrated billionaire was arrested for reportedly being the ringleader of a cybercrime syndicate.

According to the FBI, his organised syndicate had defrauded several American citizens to the tune of $11m “through fraudulent wire transfer instructions in a massive coordinated business email compromise scheme.

PremiumTimes reported that Invictus Obi has pleaded and waiting to be sentenced in October. According to the report, the 32-year-old admitted to American prosecutors that he was involved in computer-based fraud between 2015 and 2019.

Meanwhile, Joshua Stueve, a spokesperson for the United States District Court for Eastern District of Virginia, revealed that the suspect could spend 20 years maximum penalty in an American jail. He would be sentenced on October 22, Mr Stueve said.

Robert Krask, an American judge of the district, certified the guilty plea on Thursday morning.