There have been a few things that happened in Nigeria this year that had shaken the internet as the arrest of 32-year-old billionaire Invictus Obinwanne for wire fraud.

Invictus was arrested by the US Federal Bureau of Investigation, FBI on Friday in the US for allegedly stealing from unsuspecting Americans up to $11 million, about N3.9 billion, mostly through email scams.

The question many are asking now is, what next? If convicted, how long is he likely to spend in jail? How much of his wealth is he likely to forfeit to the authorities, etc?

Well, in Nigeria, Obinwanne could be looking at a possible 5-year jail term, because under the Cybercrime Act 2015, Internet fraudsters are liable to a fine of up to N10 million or a term of imprisonment of 5 years, if convicted.

However, a person convicted of wire fraud faces significant potential penalties in the US.

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