Ten Nigerians have been found guilty in the United States over their roles in a large-scale internet fraud scheme that swindled victims of about $125 million.
The U.S. Attorney’s Office disclosed that the convicts were among 25 defendants prosecuted for fraud and money laundering following a four-day trial at the United States District Court for the Northern District of Ohio.
Those convicted include Oluwafemi Michael Awoyemi; Ayobami Osas Christopher; Emmanuel Okereke, also known as “Omo Igbo”; Olalekan Bashiru, alias “Ola Bash”; Casey Adesulu Jr; Jeremiah Agina; Ademola Balogun; Olabode Bankole; Chukwuemeka Evulukwu; and Ayorinde Emmanuel Adebayo.
According to prosecutors, the group operated an organised cybercrime network that targeted individuals, businesses and institutions across the United States and other parts of the world.
Investigations revealed that the syndicate gained unauthorised access to email accounts and monitored communications to understand ongoing financial dealings. Using the information obtained, they sent deceptive payment instructions that appeared genuine, leading victims to transfer funds.
The authorities said the fraud scheme spanned several countries, including Canada, the United Kingdom, Germany, the United Arab Emirates and Australia.
Proceeds from the illicit activities were laundered through multiple bank accounts and financial channels to obscure their source and distribute the funds among members.
The court heard that the network generated about $125 million, with nearly $50 million converted into cashier’s cheques processed through a Chicago-based financial service outlet.
In one of the cases cited, a company reportedly transferred $2.7 million into a fraudulent account linked to the syndicate.
Law enforcement agents recovered about $1.2 million in cash, cryptocurrency and cashier’s cheques, as well as luxury assets, including expensive wristwatches and a residential property in Georgia.
The convicts are expected to be sentenced at a later date, with the court set to determine penalties based on their level of involvement and prior records.
