Nigeria, June 19 -- Barely three years ago, business magazine Forbes celebrated Obinwanne Okeke as one of "the world's most influential young entrepreneurs."

So much for that.

The 32-year-old money man behind Abuja-based Invictus Group admitted his involvement in a conspiracy to commit wire fraud and agreed to cooperate with American authorities on Thursday.

After months of denying wrongdoing, Mr Okeke, also known as Invictus Obi, pleaded guilty to $11 million (N4.2 billion) theft before a federal judge in the United States on Thursday morning, according to court documents obtained by PREMIUM TIMES.

He would be sentenced on October 22 for a potentially lengthy period that could see him spend 20 years behind bars. He also faces up to $...