On July 16, the Nigeria Police Force confirmed the arrest of Linus Williams, a self-proclaimed crypto billionaire also known as Blord. Williams faces charges related to internet fraud, terrorism funding, and violations of the Central Bank of Nigeria (CBN) Act. According to a police spokesman, some of Williams’ alleged crimes involve the use of cryptocurrency for fraudulent activities. Specifically, he operated an exchange platform that purchased the stablecoin USDT and bitcoin using the naira, which violates the country’s laws.

Self-Proclaimed Billionaire Faces Terrorism Funding Charges

According to local reports, Nigerian police have arrested the self-proclaimed crypto billionaire Linus Williams on fraud and terrorism funding charges. Williams, popularly known as Blord, is alleged to have committed these crimes through his holding company, Blord Group of Companies.

The arrest, confirmed by Nigeria Police Force (NPF) spokesman Prince Olumuyiwa Adejobi, also relates to Williams’ alleged violation of the Central Bank of Nigeria (CBN) Act. In a statement issued via X on July 16, Adejobi hinted that some of Williams’ alleged crimes involve the use of cryptocurrency in committing fraud.

“The FCID (NPF-NCCC) is currently investigating complaints lodged against Blord Group, Blord Real Estate Ltd, Blord Jetpaye Limited, and Billpoint Technology. These offences include allegations bordering on cryptocurrency fraud, aiding internet fraud, computer-related fraud, terrorism funding, and non-compliance with regulatory frameworks,” Adejobi stated.

An Enigmatic Figure in Nigeria’s Crypto Landscape

The police spokesman promised that the Nigerian Police Force (NPF) would carry out due diligence and vowed to keep the Nigerian cyberspace safe and secure.

While the police did not share greater details about Williams’ alleged criminal acts, an unnamed player in the Nigerian crypto industry argued that the self-proclaimed billionaire had it coming. This player claimed that Williams was all over the place, and industry leaders have not been able to determine if he is a trader or an investor. Notably, Williams is not recognized by some of Nigeria’s biggest crypto associations.

Additionally, there are allegations that Williams operated an exchange platform that purchased the stablecoin USDT and bitcoin using the naira. Nigerian authorities recently outlawed this practice, leading several global crypto exchanges to drop trading pairs featuring the naira from their respective platforms.