A Nigerian citizen and U.S. permanent resident, Adedayo Fateru, has been sentenced to 87 months in prison for his role in a money laundering scheme involving approximately $1.7 million in fraud proceeds in the United States.
Fateru was among four individuals sentenced in connection with the scheme, according to United States Attorney Dan Bishop of the Middle District of North Carolina.
The other defendants were identified as Lisa Farrow, William Atwater and Victoria Stone.
According to court documents, the Internal Revenue Service Criminal Investigation and the United States Postal Inspection Service investigated the group over a money laundering operation involving proceeds from several fraud schemes.
The schemes included business email compromises (BEC), modified check schemes, fraudulent Automated Clearing House (ACH) transactions, false applications for Economic Injury Disaster Loans (EIDL) issued during the COVID-19 pandemic and fraudulent unemployment benefit applications.
Prosecutors said Farrow recruited Stone and Atwater into the conspiracy to work with Fateru.
Farrow and Fateru allegedly directed Stone and Atwater on how to open bank accounts and move the proceeds of the fraud schemes. They also collected portions of the money withdrawn by Stone and Atwater from their accounts.
Stone opened 10 bank accounts and received approximately $1.04 million in fraud proceeds, including money from various wire fraud schemes and BEC scams.
She allegedly withdrew approximately $187,375 through hundreds of smaller transactions, including ATM withdrawals and debit card cash advances, which investigators said were designed to move and conceal the proceeds.
Atwater, meanwhile, opened several bank accounts in his name to receive proceeds from various wire fraud schemes, including fraudulent EIDL applications and a BEC scam.
He received approximately $704,320 in fraud proceeds into his accounts and allegedly withdrew or transferred about $390,352 through more than 150 transactions designed to move and conceal the money.
Fateru was sentenced to 87 months in prison, followed by three years of supervised release.
After completing his prison sentence, Fateru will be transferred to the custody of U.S. Immigration and Customs Enforcement (ICE) for removal proceedings under U.S. immigration law.
Farrow was sentenced to 45 months in prison followed by three years of supervised release, while Atwater received 33 months in prison and two years of supervised release.
Stone was sentenced to 25 months in prison followed by three years of supervised release.
The case was investigated by IRS Criminal Investigation and the U.S. Postal Inspection Service.
Assistant U.S. Attorney Ashley Waid of the Middle District of North Carolina is prosecuting the case.
Vanguard News
The post Nigerian man jailed 87 months over $1.7m money laundering scheme appeared first on Vanguard News.