The Chief Executive Officer (CEO) of Invictus Group, Obinwanne Okeke who was arrested by the Federal Bureau of Investigation (FBI) over $11 million wire fraud has been indicted by a federal grand jury in the United States.
He was indicted in the initial process before the commencement of a trial usually filed after the conclusion of a grand jury investigation.
Okeke risks the forfeiture of at least $11 million in cash and asset if found guilty of the charges as recommended by the jury. The jury also ruled that an emerald cut engagement ring found on him when he was arrested should be forfeited.
This recommendation came after the conclusion of a series of investigations of the U.S. Department of Justice conducted by the Federal Bureau of Investigation (FBI).
[READ MORE: FBI arrests Invictus Group’s Obinwanne Okeke, Forbes Africa 30 Under 30 list nominee]
What you should know: Okeke was indicted on September 9 by the grand jury while in custody of the U.S. Marshals Service. A grand jury typically consists of 23 people who may not necessarily be lawyers or have law enforcement backgrounds.
Okeke’s trial is set to commence on September 16. The presiding judge that has been assigned for the case is Douglas Miller, a U.S. magistrate at a federal courthouse in Newport News, Virginia.
Okeke faces up to 30 years if convicted. John Iweanoge, a Washington D.C. attorney of Nigerian origin has been chosen as his lead counsel. It is expected that he will enter a plea deal during the commencement of his trial on September 16.
Meanwhile, the FBI findings show that Okeke committed the fraud alongside others but it is unclear whether Okeke’s alleged accomplices have been identified or if authorities have deliberately concealed their details.
Investigations on Okeke commenced in July 2018 when the FBI was contacted by the representatives of Unatrac Holding Limited after they experienced a fraudulent wire transfer of $11 million through an email compromise.