Nigerian businessman and owner of Invictus Group, Obinwanne Okeke, who was arrested in 2019 in the United States for $11 million (N4.2 billion) fraud, has pleaded guilty.

Okeke was arrested in August 2019 as he was about leaving the United States for Nigeria and held in jail for several months. He initially pleaded not guilty and was remanded by different district court judges.

Okeke and other conspirators were accused of targeting American businesses. Unatrac, a subsidiary of heavy equipment giant Caterpillar, was amongst the companies said to have been targeted by the cartel in a business email compromise scheme for several years, the court document says.

According to the Department of Justice, Eastern District of Virginia, Okeke will face a maximum of 20 years in prison.

Okeke pleaded guilty to a conspiracy to commit wire fraud. Okeke faces a maximum penalty of 20 years in prison when sentenced on October 22. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.