The Federal Bureau of Investigation (FBI) says an “elusive” Nigerian man has been convicted of working a nationwide banking and cash laundering scheme that hauled in additional than $2 million.
In line 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 id theft for masterminding the plot.
Authorities say that Adekoya obtained public data relating to individuals’s house fairness traces of credit score (HELOC), recognized those that had substantial quantities after which used encrypted messaging apps to seek 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 equipped them with pretend 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 functions to move key data. He additionally laundered funds by means of financial institution accounts beneath different individuals’s names.
In line with the press launch, Adekoya has an in depth felony 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 Might 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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