I turned to fraud because I don’t want to work for a salary, says fraudster worth over $500k
Patrick Akpoguma, a 28-year-old Nigerian, has confessed to participating in a range of fraudulent activities, including romance scams, identity theft, cryptocurrency fraud, and more. The suspect, who holds a degree in mechanical engineering, explained that his decision to turn to fraud was driven by a desire to avoid traditional employment. "I turned to fraud because I didn’t want to work for a salary," Akpoguma admitted during an interview at the Zone 2 Police Command in Onikan, Lagos. He said he began his criminal activities three years ago, and his schemes have reportedly earned him over $500,000.
Akpoguma's wealth from fraud enabled him to purchase two properties—one in Lagos and the other in Edo State—and a luxury GLE Benz worth ₦100 million. His activities first came to the attention of authorities on 7th November 2024, following complaints from residents of Chevron Drive, Lekki, where Akpoguma lived. A subsequent investigation revealed that he had been involved in various scams, particularly impersonating high-profile individuals to trick victims into sending money via Bitcoin and other cryptocurrencies.
According to Assistant Inspector General (AIG) Adegoke Fayoade, Akpoguma’s primary method involved posing as Colonel Matt Herbert, a U.S. Army officer purportedly on a peacekeeping mission in Iran, and as Adam Taggart, a well-known cryptocurrency expert. To make these impersonations more convincing, Akpoguma went so far as to create a fake Instagram account under the name 'Adam Taggart' and even purchased a $11,200 silicone face mask to mimic the appearance of one of his targets.
In a desperate attempt to avoid arrest, Akpoguma reportedly offered a bribe of $100,000 (approximately ₦174 million) to police officers on 12th November 2024. The bribe was accepted and documented as evidence of his attempt to influence the investigation.
AIG Fayoade confirmed that the investigation has now been completed, and Akpoguma is set to be arraigned in court. This case sheds light on the growing sophistication of internet fraudsters in Nigeria, where cybercrime continues to be a significant issue. Akpoguma’s actions highlight the dangers posed by online scammers who use increasingly complex tactics to exploit victims, particularly in the realm of cryptocurrency fraud.
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