Nigerians among convicts in $215m global email fraud scheme

AUTHORITIES in the United States say a large-scale email fraud operation that defrauded over 1,000 victims across 19 countries of about $215 million has resulted in multiple convictions, including those of Nigerian nationals.

In a statement released on Thursday, the US attorney’s office disclosed that 25 individuals were convicted on April 24 for their involvement in the scheme, which centred on fraud and money laundering linked to business email compromise.

Among those convicted were four Nigerian nationals: Emmanuel Okereke, also known as Omo Igbo, 42; Olalekan Bashiru, alias Ola Bash, 36; Jeremiah Agina, 29; and Ademola Balogun, 43.

Five others, such as Ayobami Osas Christopher (aka Lovely Man), 30; Ayorinde Emmanuel Adebayo, 35; Olabode Bankole, 37; Chukwuemeka Evulukwu, 35; and Kingsley Owusu, 37, were identified as naturalised US citizens of Nigerian descent.

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Oluwafemi Michael Awoyemi, 40, was also listed as a defendant in a separate but related trial, although authorities did not specify whether he is a Nigerian national or a naturalised US citizen.

How the scheme operated

Court filings and evidence showed that the group infiltrated email accounts belonging to individuals and organisations. Co-conspirators then monitored communications to gather intelligence on ongoing transactions and business dealings.

Once they had sufficient information, the fraudsters sent carefully crafted emails either to the account owners or to their contacts, requesting payments under the guise of legitimate transactions.

Because the messages were tailored using real-time insights from compromised accounts, victims were often convinced they were dealing with genuine business partners.

After securing payments, the group moved funds through a network of fraudulent bank accounts and transfer systems to conceal the origins and distribute the proceeds.

Investigators revealed that about $50 million of the stolen funds was converted into cashier’s cheques and cashed through the New Dolton Currency Exchange, a Chicago-area financial service business run by co-defendant Lon Goodman.

Goodman allegedly accepted cheques from individuals using fake identities or from instruments issued in other people’s names. He also processed transactions using false know-your-customer details and continued operations even after banks flagged suspicious or fraudulent activity.

When risks increased, he reportedly allowed cheques to be processed through shell companies controlled by members of the conspiracy.

Global impact and assets recovered

Victims of the scheme were spread 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.

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Wire transfers made by victims ranged from tens of thousands of dollars to multimillion-dollar sums. In one case, a company transferred $2.7 million to a shell account linked to a member of the network.

Assets seized or marked for forfeiture during the investigation included nearly $1.2 million in cashier’s cheques, cryptocurrency, and cash. Authorities also listed luxury items such as a Patek Philippe Nautilus watch valued at $45,000, an Audemars Piguet Royal Oak worth $30,000, and a Richard Mille Felipe Massa watch valued at $140,000. A 4,423-square-foot home in Lawrenceville, Georgia, was also part of the forfeiture.

The US attorney’s office noted that sentencing for each defendant will depend on various factors, including their criminal history, level of involvement, and the specifics of their offences.

The case was investigated by the Federal Bureau of Investigation (FBI) Cleveland Division, the US Postal Inspection Service, and the US Border Patrol Sandusky Bay Intelligence Unit.