Founder of Invictus Group, Obinwanne Okeke, popularly known as Invictus Obi, has pleaded guilty to $11 million (N4.2 billion) fraud.
The 32-year-old told US prosecutors that he was involved in computer-based fraud between 2015 and 2019.
Mr Okeke was charged with two counts of wire and computer fraud which he initially denied.
A spokesperson for the United States District Court for Eastern District of Virginia, Joshua Stueve told Premium Times on Thursday that the Nigerian would be sentenced on October 22.
He said Okeke could spend 20 years maximum penalty in prison.
“A federal district court judge will determine any sentence after taking into account the U.S. sentencing guidelines and other statutory factors,” the court official said.
An American judge of the district, Robert Krask, certified the guilty plea on Thursday morning.
Okeke was arrested by the Federal Bureau of Investigation (FBI) on August 6, 2019 in Alexandria, Virginia, as he was about to return to Nigeria.
US authorities say he defrauded the United Kingdom office of Unatrac of up to $11 million in business email fraud.
Unatrac filed complaints with the FBI through Caterpillar, though the company’s headquarters is in the United Arab Emirates (UAE).