Three Nigerian nationals based in the United States—Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe—could face a combined 60-year prison sentence after pleading guilty to a multimillion-dollar money laundering conspiracy linked to romance scams and business email compromise (BEC) fraud.
On Friday, Olorunfunmi, 39, appeared in a federal court in Charlotte, North Carolina, U.S. and admitted to laundering millions of dollars obtained through fraudulent activities that victimised more than 125 individuals.
Attorney Russ Ferguson for the Western District of North Carolina confirmed the plea, highlighting the devastating financial toll on unsuspecting victims.
According to court documents, from 2020 to 2023, Olorunfunmi conspired with Amos, 53, and Unuigbe, 42, to orchestrate an elaborate scheme targeting elderly individuals through romance scams and defrauding businesses through BEC schemes.
Victims were deceived into transferring funds into domestic and international accounts controlled by the conspirators.
Meanwhile, once received, the funds were moved through multiple bank accounts in the U.S. and overseas to conceal the illicit origins.
Two co-conspirators have also pleaded guilty and are awaiting sentencing. Amos admitted to conspiracy to operate an unlicensed money-transmitting business, while Unuigbe pleaded guilty to money laundering conspiracy and unlicensed money-transmitting business charges.
Investigators revealed that the trio profited by keeping some of the stolen funds and facilitated illegal currency exchanges, converting U.S. dollars to Nigerian Naira at black market rates.
The money laundering conspiracy charge carries a maximum sentence of 20 years in prison for each defendant. However, no sentencing date has been announced.
BEC schemes, a form of cyber-enabled financial fraud, often involve hackers gaining unauthorised access to legitimate email accounts or creating fake ones to impersonate business executives or employees.
Fraudsters send deceptive wire transfer instructions, tricking victims into sending funds to accounts controlled by criminals.
These funds are quickly moved to other accounts worldwide, making recovery difficult.
Romance scams, another tactic used in this case, involve fraudsters assuming fake identities online to establish romantic relationships with victims, primarily targeting vulnerable individuals.
Once trust is gained, scammers fabricate emergencies, legal issues, or other financial burdens to manipulate victims into sending money.
Robert M. DeWitt, Special Agent in Charge of the FBI in North Carolina, commended the investigators for dismantling the operation and emphasised that law enforcement remains committed to protecting the public from sophisticated financial fraud.
U.S. Attorney Ferguson also thanked the FBI for its efforts in unravelling the scheme. Assistant U.S. Attorney Daniel Ryan is leading the prosecution
