The Federal Bureau of Investigation (FBI) says an “elusive” Nigerian man has been convicted of operating a nationwide banking and cash laundering scheme that hauled in additional than $2 million.
Based on a brand new press release by the Division of Justice (DOJ), 39-year-old Oluwaseun Adekoya, who resides in New Jersey, has been convicted of financial institution fraud conspiracy, cash laundering conspiracy and 9 counts of aggravated identification theft for masterminding the plot.
Authorities say that Adekoya obtained public info concerning folks’s dwelling fairness traces of credit score (HELOC), recognized those that had substantial quantities after which used encrypted messaging apps to search out out non-public figuring out details about his victims.
Adekoya subsequently recruited “an unlimited net of managers” across the nation, shared the knowledge with them and equipped them with faux identification playing cards so they may impersonate HELOC clients at banks and credit score unions to withdraw funds from victims’ accounts.
To keep away from detection, Adekoya utilized a community of burner telephones and used encrypted chat purposes to move key info. He additionally laundered funds by means of financial institution accounts underneath different folks’s names.
Based on the press launch, Adekoya has an in depth legal rap sheet and has been convicted of fraud-related crimes quite a few occasions since 2008.
Authorities say that they had been investigating Adekoya since Could 2022. He and 13 others had been indicted in December 2023, and all have since pleaded responsible. Federal brokers seized Rolex watches, a $51,000 Tiffany engagement ring, designer purses and footwear, in addition to a checking account containing $26,000 from Adekoya.
Adekoya’s sentencing is scheduled on October thirtieth, and he’s dealing with a minimal of two years and a most of 32 years behind bars.
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