Crime

Nigerian Sentenced to Seven Years in U.S. for Multi-Million Dollar Fraud Scheme

Published by Tope Fakinlede on October 12th, 2024.

Nigerian Sentenced to Seven Years in U.S. for Multi-Million Dollar Fraud Scheme

Oludayo Adeagbo, a Nigerian national, has been sentenced to seven years in prison in the United States for his involvement in a multimillion-dollar business email compromise (BEC) scheme.

This sentencing was announced by the U.S. Department of Justice, with Principal Deputy Assistant Attorney General Nicole Argentieri providing the details. Adeagbo was linked to various cyber-enabled BEC operations aimed at defrauding victim organizations in Texas of over $3 million.

Court records indicate that the 45-year-old targeted several local government entities, construction companies, and a college in the Houston area. He also conspired with others to steal more than $1.9 million from a university in North Carolina.

Adeagbo was extradited from the United Kingdom to the U.S. in August 2022 to face charges filed in Charlotte and Houston. On April 8, he pleaded guilty to one count each of wire fraud and conspiracy related to his criminal activities in both jurisdictions, 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.

The DOJ noted, “Oludayo Adeagbo and his co-conspirators executed international cyber fraud schemes that targeted schools, government agencies, and businesses across the U.S., resulting in significant financial losses.”

Additionally, Adeagbo’s accomplice, Donald Echeazu, 42, was also extradited from the UK for his role in the same fraud scheme, which caused a North Carolina university to lose over $1.9 million. On May 16, 2023, Echeazu was sentenced to 18 months in prison, followed by a year of supervised release, and ordered to pay restitution of $655,408.87 for his involvement in the conspiracy.