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.
In accordance with 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 relating to 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 personal figuring out details about his victims.
Adekoya subsequently recruited “an unlimited net of managers” across the nation, shared the data with them and provided them with pretend identification playing cards so they might 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 cross key info. He additionally laundered funds by financial institution accounts below different folks’s names.
In accordance with the press launch, Adekoya has an in depth prison rap sheet and has been convicted of fraud-related crimes quite a few instances since 2008.
Authorities say they’d been investigating Adekoya since Might 2022. He and 13 others have 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 going through a minimal of two years and a most of 32 years behind bars.
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