Federal prosecutors have unsealed an indictment charging Chinemezu Sapphire Egemasi, a Nigerian national and tech entrepreneur, with conspiracy to commit wire fraud and money laundering in connection with an elaborate scheme that defrauded U.S. businesses and government entities out of millions of dollars.
According to the 16-page indictment filed in the Southern District of New York (Case 1:25-mj-01176-UA), Egemasi, 28, is accused of orchestrating a sophisticated business email compromise (BEC) operation between 2021 and 2024.
The indictment alleges that Egemasi and her co-conspirators targeted U.S. companies, municipal governments, and educational institutions by hacking into email accounts, impersonating legitimate vendors, and rerouting payments to accounts they controlled.
The indictment details how Egemasi used her technical expertise to register dozens of fraudulent domains and create fake email addresses that closely resembled those of real vendors and government officials.
These spoofed emails were then used to send fraudulent invoices and payment instructions to unsuspecting victims.
Egemasi and her associates allegedly sent phishing emails to employees in finance and accounts payable departments, tricking them into revealing login credentials. With access to official email accounts, the conspirators monitored communications and inserted themselves into payment conversations.
Victims were persuaded to send payments, sometimes hundreds of thousands of dollars at a time, to bank accounts controlled by the fraud ring.
The stolen funds were quickly dispersed through a network of accounts in the U.S., Europe, and Africa, often using cryptocurrency to obscure the money trail.
The indictment cites at least $4.2 million in confirmed losses, with attempts totalling over $10 million. Victims included a Kentucky county government, a New York school district, and multiple private companies.
According to investigators, Egemasi played a central role in the technical planning and execution of the scheme, as well as the laundering of proceeds.
Egemasi was arrested in the Bronx, New York, on April 9, 2025, following a coordinated investigation by the FBI’s Cyber Crime Task Force. She made her initial court appearance the next day and is currently being held without bail pending trial.
If convicted, Egemasi faces up to 20 years in federal prison for each count of wire fraud and money laundering, as well as the forfeiture of assets linked to the alleged crimes.
Sapphire Egemasi, who has styled herself as a ‘tech queen’ on social media, is known for her work in software development and digital marketing. She has previously lived in the United Kingdom and Ghana, and prosecutors allege she used her international connections to further the fraud and launder funds across borders.
“This indictment sends a clear message: sophisticated cybercriminals who target American institutions will be found and prosecuted, no matter where they operate from,” U.S. Attorney Damian Williams said in a statement.
The FBI urged organisations to strengthen their cybersecurity protocols and remain vigilant against BEC schemes, which continue to cause billions in losses globally.
