A Nigerian citizen, Oludayo Adeagbo, has been sentenced to seven years in a United States federal prison for his involvement in a sophisticated multimillion-dollar business email compromise scheme.
This development was announced by the U.S. Department of Justice, highlighting the significant impact of cyber-enabled fraud on businesses and government entities across the country.
Principal Deputy Assistant Attorney General, Nicole Argentieri, stated in a release that Adeagbo was implicated in numerous BEC schemes that collectively aimed to defraud victim organizations in Texas of over $3 million.
Court documents revealed that the 45-year-old targeted a range of entities, including local governments, construction companies, and an educational institution in the Houston area.
Adeagbo’s criminal activities extended to a specific case involving a North Carolina university, where he and his accomplices conspired to misappropriate more than $1.9 million.
Notably, Adeagbo also held a British passport, which underscores the transnational nature of his operations.
He arrived in the United States in August 2022 after being extradited from the United Kingdom to face charges filed in Charlotte and Houston.
On April 8, 2023, Adeagbo pleaded guilty to one count of wire fraud and one count of conspiracy to commit wire fraud, reflecting his criminal conduct in both jurisdictions.
This plea occurred following the transfer of his case from the U.S. District Court for the Southern District of Texas to the U.S. District Court for the Western District of North Carolina.
“Oludayo Adeagbo and his coconspirators perpetrated transnational cyber-enabled fraud schemes that targeted schools, government entities, and companies across the United States, and caused millions of dollars in losses,” stated the DOJ.
This statement emphasizes the serious implications of such fraudulent schemes and the challenges they pose to institutions.
In connection with this case, another Nigerian conspirator, Donald Echeazu, aged 42, was also extradited from the UK to the U.S. for his involvement in the same BEC scheme that defrauded the North Carolina university.
On May 16, 2023, Echeazu received a sentence of 18 months in prison, followed by a year of supervised release. Additionally, he was ordered to pay restitution of $655,408.87 for his role in the fraud.
These cases serve as stark reminders of the ongoing threat posed by cybercrime and the collaborative efforts between international law enforcement agencies to combat such offenses.
