Jean-Claude Dacosta, a prominent Cameroonian businessman and former General Electric (GE) executive, has been convicted by a US federal jury for his role in a scheme to defraud and steal identities. Amongst other properties and companies, Dacosta owns the prestigious WDC Apart Hotel in Buea.
Dacosta, 62, was found guilty of conspiracy to commit wire fraud and aggravated identity theft. He faces up to 20 years in prison for the wire fraud conspiracy charge and a mandatory 2-year sentence for aggravated identity theft.
According to court documents, Dacosta participated in a complex scheme to defraud GE and its subsidiaries by submitting false invoices and fraudulent documents, resulting in losses exceeding $3.5 million.
Dacosta’s business empire included energy, construction, and real estate interests in Cameroon and Central Africa. He served as CEO of Dacosta Group, a conglomerate with operations in several African countries.
A graduate of the University of Yaoundé, Dacosta held leadership positions in various Cameroonian business organisations. His conviction has sent shockwaves through Cameroon’s business community.
The US Department of Justice’s investigation revealed that Dacosta used his network and influence to facilitate the fraud scheme.
“Today’s verdict holds Dacosta accountable for his role in this complex and sophisticated scheme,” said US Attorney Damian Williams. “This conviction demonstrates our commitment to prosecuting individuals who engage in fraudulent activities, regardless of their position or influence.”
Dacosta’s sentencing has been scheduled for a later date.
