Police arrested the billionaire CEO of BLord Crypto Group on Tuesday for aiding cryptocurrency fraud.
Amid the escalating crisis between the Nigerian government and the large crypto industry, the Nigerian Police Force (NPF) apprehended a famous crypto entrepreneur and trader known as BLord on Tuesday. BLord is famous for flaunting his luxurious lifestyle, which he claims is sponsored by his massive crypto earnings.
NPF Arrests “BLord” Linus Williams
Linus Williams, popularly known as BLord, is an Instagram influencer in Nigeria with an online family of over 3 million followers. He is the CEO of BLord Group, BLord Real Estate LTD, BLord Jetpaye Limited, and Billpoint Technology.
Within the past few weeks, charges have been laid against Williams for cryptocurrency fraud, aiding internet fraud, computer-related fraud, terrorism funding, and non-compliance with regulatory frameworks. The NPF has started an investigation based on the charges laid.
On Tuesday, Nigerian Force Public Relations Officer Prince Olumuyiwa Adejobi announced that the agency has detained and is interrogating Williams for alleged fraud and violation of the CBN act.
He revealed that the Nigerian Police Force – National Cybercrime Center (NPF-NCC) works alongside the Financial Crimes Investigation Division (FCID) to ensure the case is best investigated.
Officer Adejobi also reassured the public of the police force’s efforts to protect Nigerian citizens from cyber fraud. “We will do due diligence in our investigations. Our cyberspace in Nigeria must be safe and secure by all means. We are committed to achieving that.”
Nigeria and the Crypto Industry
Nigeria is one of the most crypto-inclined countries in the world. Many youths are switching to the crypto job industry as a source of income, and a significant percentage of the country’s population invests in cryptocurrencies.
However, the government has fought against crypto adoption in the country. Starting this year, the government has banned cryptocurrency peer-to-peer transactions in the country to save the Nigerian Naira from crashing.
Further, the Nigerian government has detained Binance officials and banned Nigerians from visiting crypto exchange sites. The Nigerian Securities and Exchange Commission (SEC) is also trying to regulate crypto transactions by introducing taxes for Nigerian citizens.
