A U.S. federal jury has convicted Oluwafemi Michael Awoyemi and two co-defendants for their roles in a $215 million international cybercrime and money laundering scheme that defrauded over 1,000 victims across 47 U.S. states and 19 countries.
The development was disclosed in a statement issued on Thursday, April 30, by the United States Attorney’s Office for the Northern District of Ohio.
The convictions followed a four-day federal trial in Toledo, Ohio, where prosecutors detailed how the Nigerian-linked business email compromise syndicate executed large-scale email hacking, fraudulent payment diversion, and global money laundering operations.
What they are saying
According to U.S. prosecutors, Awoyemi, 40, alongside Aruan Drake, 37, and Peter Reed, 35, was found guilty of wire fraud conspiracy, while Awoyemi and Drake were also convicted of money laundering conspiracy.
- “After a four-day trial, a federal jury found two men and a woman guilty of involvement with an international email hacking scheme that defrauded more than 1,000 victims out of approximately $215 million. The scheme spanned 47 states and 19 countries.”
- “On April 24, 2026, a jury in Toledo, Ohio, convicted Oluwafemi Michael Awoyemi, 40, of Romeoville, Illinois, Aruan Drake, 37, of Atlanta, Georgia, and Peter Reed, 35, of Oak Forest, Illinois, of Wire Fraud Conspiracy.”
Court evidence showed the syndicate targeted businesses, organizations, and individuals by hacking email accounts, monitoring communications, and sending fraudulent payment requests disguised as legitimate financial instructions.
These fraudulent transactions redirected large sums into shell company accounts, after which the proceeds were laundered through fake business entities, fraudulent cashier’s checks, and money service channels to conceal the stolen funds.
More insights
Prosecutors revealed that approximately $50 million of the stolen proceeds was processed through a Chicago-area currency exchange operated by co-defendant Lon Goodman, who allegedly accepted fraudulent checks and false identification despite repeated warnings from financial institutions.
- Victims were spread across major U.S. states, including Ohio, California, Texas, Florida, and New York, as well as international jurisdictions such as Canada, Germany, Italy, Australia, and the United Arab Emirates.
- In one significant case, a victim business transferred about $2.7 million into a shell company account controlled by the fraud syndicate.
- Federal authorities seized or pursued forfeiture of nearly $1.2 million in cashier’s checks, cash, cryptocurrency, luxury watches, and a 4,423-square-foot property in Lawrenceville, Georgia.
- The latest convictions increased the total number of convicted defendants in the network to 25 through trial verdicts and guilty pleas.
The investigation was led by the FBI Cleveland Division, the U.S. Postal Inspection Service, and the U.S. Border Patrol Sandusky Bay Intelligence Unit, with sentencing to be determined based on each defendant’s criminal history and role in the conspiracy.
What you should know
The conviction of Awoyemi and his co-defendants adds to a growing number of fraud-related prosecutions involving Nigerian nationals in the United States.
- U.S. authorities previously indicted Shodiya Babatunde and Jamui Ahmed over a business email compromise scheme targeting Minnesota-based healthcare companies.
- Prosecutors said the suspects used spoofed domains and fake executive emails to impersonate Fairview Health officials and divert over $13 million in healthcare-related payments.
- Recently, Nigerian national Patrick Nwaokwu was sentenced to 21 months in U.S. prison for participating in a nursing credentials fraud operation that caused more than $1.5 million in losses.
- According to the U.S. Sentencing Commission, health care fraud offenses increased by 19.7% between fiscal years 2020 and 2024.
These cases reflect increasing scrutiny by U.S. authorities on transnational cybercrime networks and the growing legal consequences for individuals involved in sophisticated international fraud operations.
