Nigerian nationals are among 25 individuals convicted in connection with a global email fraud scheme that defrauded more than 1,000 victims across 19 countries of approximately $215 million, the United States attorney’s office has said.
Gatekeepers News reports that in a statement issued on Thursday, the office said the defendants were convicted on April 24 for their roles in the fraud and money laundering operation, commonly known as “business email compromise.”
Among those convicted are four Nigerian nationals — Emmauel Okereke, also known as Omo Igbo, 42; Olalekan Bashiru, also known as Ola Bash, 36; Jeremiah Agina, 29; and Ademola Balogun, 43.
Another five defendants — Ayobami Osas Christopher, also known as Lovely Man, 30; Ayorinde Emmanuel Adebayo, 35; Olabode Bankole, 37; Chukwuemeka Evulukwu, 35; and Kingsley Owusu, 37 — are naturalised United States citizens of Nigerian descent.
Oluwafemi Michael Awoyemi, 40, was also listed as a defendant in a separate trial related to the same scheme, although it was not specified whether he is a Nigerian national or a naturalised US citizen.
The Fraud Scheme
According to court documents and evidence, the defendants gained unauthorised access to email accounts belonging to individuals and businesses, using co-conspirators to monitor communications and activities.
After gathering sufficient intelligence, the conspirators sent fraudulent emails either to the compromised account holders or to their business contacts, requesting payments under the guise of legitimate transactions.
Because the attackers were familiar with the victims’ activities, the emails were crafted to appear authentic, increasing the likelihood that recipients would authorise payments.
Once funds were obtained, members of the network used a complex system of fraudulent bank accounts and cash transfer methods to launder and distribute the proceeds.
The court heard that about $50 million of the stolen funds was converted into cashier’s cheques, which were presented for payment at the New Dolton Currency Exchange, a Chicago-area money service business owned by co-defendant Lon Goodman.
Goodman allegedly accepted the cheques from co-conspirators who used false identification or presented cheques issued in other names. He was also said to have routinely accepted false know-your-customer (KYC) information and continued processing transactions despite warnings from banks that the funds were fraudulent.
When accepting cheques in individuals’ names became risky, Goodman reportedly processed cheques made out to shell companies controlled by the conspirators.
Victims of the scheme were identified across several countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Italy, Kuwait, the United Arab Emirates, Australia, New Zealand, Malaysia, Panama, Bermuda, and Romania, among others.
The fraudulent wire transfers ranged from tens of thousands to millions of dollars. In one instance, a victim business transferred $2.7 million to a shell company account controlled by a member of the conspiracy.
Items seized or subject to forfeiture during the investigation included nearly $1.2 million in cashier’s cheques, cryptocurrency, and cash, as well as luxury assets such as a Patek Philippe Nautilus watch valued at $45,000, an Audemars Piguet Royal Oak watch worth $30,000, a Richard Mille Felipe Massa watch valued at $140,000, and a 4,423-square-foot residence in Lawrenceville, Georgia.
The US attorney’s office said sentencing for each defendant will be determined by the court after considering factors such as prior criminal records, individual roles in the scheme, and the nature of the offences.
The investigation was carried out by the Federal Bureau of Investigation (FBI) Cleveland Division, the US Postal Inspection Service, and the US Border Patrol Sandusky Bay Intelligence Unit.
