Three Nigerian nationals have pleaded guilty in a U.S. federal court for their roles in laundering over $4.5 million in fraud proceeds from romance scams and business email compromise (BEC) schemes.
The announcement was made by U.S. Attorney Russ Ferguson for the Western District of North Carolina.
According to court documents and statements made during the plea hearings in Charlotte, the scheme, which ran from 2020 to 2023, involved laundering proceeds from romance scams and business email compromise (BEC) schemes, deceiving over 125 victims into wiring funds to accounts controlled by the conspirators.
The funds were then laundered through U.S. and international bank accounts.
Assistant U.S. Attorney Daniel Ryan of the U.S. Attorney’s Office in Charlotte is handling the prosecution.
Details of the fraud scheme
According to court documents, Olorunfunmi’s admission reveals that he conspired with two, Samson Amos, 53, and Emmanuel Unuigbe, 42, in a scheme designed to launder money obtained from scams.
- Olumide Olorunfunmi, 39 – pleaded guilty to money laundering conspiracy.
- Samson Amos, 53 – pleaded guilty to conspiracy to operate an unlicensed money transmitting business.
- Emmanuel Unuigbe, 42 – pleaded guilty to both money laundering conspiracy and conspiracy to operate an unlicensed money transmitting business.
The charge of money laundering conspiracy carries a maximum sentence of 20 years in prison. Sentencing dates have not yet been scheduled for any of the defendants.
The perpetrators directed victims to transfer funds into domestic and international bank accounts controlled by them. Once the fraudulent funds were received, the conspirators dispersed the money across multiple accounts within the U.S. and abroad to obscure its origins.
The court also noted that Olorunfunmi, Amos, and Unuigbe profited from the scheme by keeping a portion of the illicit funds. They further engaged in illegal currency exchange by using U.S. dollars received from the scam victims to transfer Nigerian Naira between bank accounts in Nigeria at black market rates.
Warning on online fraud
U.S. Attorney Ferguson highlighted the significant harm caused by such fraud, stressing that it exploits vulnerable individuals and businesses.
“These types of schemes target vulnerable individuals and businesses, causing financial ruin and emotional distress,” he said.
The FBI, which investigated the case, urged individuals and businesses to remain cautious when conducting online financial transactions.
What you should know
The U.S. Attorney’s Office stated that Business Email Compromise (BEC) schemes involve fraudsters gaining unauthorized access to email accounts or creating deceptive email addresses to impersonate trusted contacts.
- They use these compromised or fake accounts to send fraudulent wire transfer instructions, tricking businesses and individuals into transferring funds to criminally controlled accounts. The stolen money is then quickly moved across multiple financial institutions, both domestically and internationally.
- Romance scams involve fraudsters posing as potential romantic partners to manipulate victims into sending money. Scammers often claim to be working abroad and use fabricated personal crises to solicit financial assistance.
These criminals operate across dating and social media platforms, making it difficult for victims to detect the deception.
