The Attorney General’s office for the state of Kansas, USA, foiled the plans of a Nigerian national to scam a Kansas local of crypto assets. According to local media, this Nigerian is Bimbo Toyin Akinyemi.

Akinyemi assured the unidentified Kansan victim a huge profit after investing funds in crypto. This led to both entering into a contract in 2023, as shown in court documents.

Notably, “Victim X” was to buy BTC per the signed contract and transfer the bought crypto assets into an investment wallet owned by Akinyemi. The BTC was worth about $250 and the contract promised a return on investment between $500 and $1240.

By all means, Akinyemi took advantage of Victim X’s ignorance of how cryptocurrencies work. Victim X was unaware that crypto funds transfers could not be traced and this fact was exploited by the scammer.

Also, the contract deceived Victim X into believing that the funds transferred were in an activated “investment wallet”. Meanwhile, Akinyemi moved the crypto assets to his wallet.

Later, Akinyemi emailed a phoney cheque for $1000 to Victim X that could not be cashed.

Kansas’ Attorney General’s Office Reactions and Penalties

The Attorney General’s office for the state of Kansas sued Akinyemi for violation of the Kansas Consumer Protection Act. Accordingly, the office highlighted that Victim X’s $250 initial investment must be refunded.

Akinyemi didn’t respond to the Attorney General’s office lawsuit. The district court judge ordered full restitution against him for not obeying the court summons sent by email.

Following combined investigations with the FBI and the Department of Justice, these agencies seized his wallet which contained BTC and other crypto assets worth over $30,000.

Also, Akinyemi is subject to a $50,000 civil fine for the Act violation. In addition, the fraudulent action deserved $4,000 for investigation fees and covering all court expenses. Also, the judge banned Akinyemi from consumer transactions within the state of Kansas.