Three Nigerians living in the United States, Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe, are facing up to 60 years in prison for allegedly laundering $4.5 million obtained through romance scams and business email compromise (BEC) schemes.
Massive Fraud Scheme Uncovered
According to a statement from the U.S. Department of Justice, the trio conspired to launder millions in criminal proceeds, causing financial losses to at least 125 victims in the U.S.
The department disclosed that while Amos and Unuigbe pleaded guilty in 2023, Olorunfunmi admitted guilt in a federal court on Friday.
“Olumide Olorunfunmi, 39, a Nigerian national, appeared in federal court in Charlotte today and pleaded guilty to money laundering conspiracy for laundering millions in criminal proceeds linked to romance scams and business email compromise schemes,” the statement read.
It further explained that the victims were tricked into depositing money into accounts controlled by Amos and his co-conspirators, who then transferred the funds to Nigeria while keeping a percentage for themselves.
How the Scheme Worked
The fraudulent activities, which ran from 2020 to 2023, primarily involved:
- Romance scams targeting elderly victims.
- Business email compromise (BEC) schemes, in which businesses were tricked into making fraudulent wire transfers.
The U.S. Department of Justice revealed that:
“The victims of the schemes were directed to transfer funds into domestic and international bank accounts controlled by Olorunfunmi and his co-conspirators. Upon receiving the fraud proceeds, Olorunfunmi and his co-conspirators transferred the funds to other bank accounts, in the U.S. and overseas.”
They also engaged in black-market currency exchange by converting stolen U.S. dollars into Nigerian Naira at illicit exchange rates.
Potential 60-Year Jail Sentence
Each of the three defendants faces up to 20 years in prison for the money laundering conspiracy charge, meaning they could collectively serve 60 years behind bars.
“The charge of money laundering conspiracy carries a maximum sentence of 20 years in prison. A sentencing date has not been set,” the statement concluded.
The case highlights the growing international crackdown on cybercrime and financial fraud, with authorities taking stringent actions against individuals exploiting online scams to defraud unsuspecting victims.
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