Oludayo Adeagbo, a British-Nigerian national, has been sentenced to seven years in prison due to his involvement in a multimillion-dollar business email compromise (BEC) scheme.
Gatekeepers News reports that Adeagbo, who is also known by the names John Edwards and John Dayo, collaborated with others to embezzle over $3 million from various entities in Texas, including local government organizations, construction firms, and a college in the Houston area, according to the U.S. Department of Justice.
Also, they defrauded a university in North Carolina of more than $1.9 million.
The case against Adeagbo began in August 2022 when he, along with two other Nigerian citizens—Donald Echeazu, 42, and Olabanji Egbinola, 44—was extradited from the United Kingdom to face charges which included conspiracy, wire fraud, and money laundering.
The offences were linked to activities that occurred in North Carolina, Texas, and Virginia.
On April 8, Adeagbo entered a guilty plea in connection with two separate cases arising from his participation in the BEC scheme, which is characterized as a form of cyber-enabled financial fraud.
Scammers can initiate BEC schemes by setting up fake accounts that impersonate legitimate companies with whom a business frequently interacts. In addition to his prison sentence, Adeagbo has been ordered to pay $942,655.03 in restitution.
