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Nigerian Sentenced To 7 Years In U.S. For Multimillion-Dollar Email Fraud

Published

2 months ago

Oct 12, 2024.

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

The US Department of Justice (DOJ), through Principal Deputy Assistant Attorney General Nicole Argentieri, revealed that Adeagbo attempted to steal over $3 million from businesses and government entities in Texas.

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EKO HOT BLOG reports that according to court documents, Adeagbo, who also holds a British passport, conspired with accomplices to defraud various organizations, including a North Carolina university, which lost over $1.9 million.

Extradited from the United Kingdom to the US in August 2022, Adeagbo faced charges in both Charlotte and Houston. On April 8, 2024, he pleaded guilty to wire fraud and conspiracy to commit wire fraud in both cases.

The DOJ emphasized that Adeagbo’s cyber-enabled schemes targeted educational institutions, construction companies, local governments, and a Houston-area college.

Adeagbo’s co-conspirator, Donald Echeazu, 42, also a Nigerian, was extradited from the UK for his role in defrauding the North Carolina university. Echeazu was sentenced to 18 months in prison, a year of supervised release, and ordered to pay $655,408.87 in restitution.

Nigerian Sentenced To 7 Years In U.S. For Multimillion-Dollar Email Fraud

This case highlights the international efforts to combat cyber fraud and protect victims from BEC scams, which continue to pose significant financial threats to businesses and institutions.