Oludayo Adeagbo, a 45-year-old Nigerian national holding a British passport, has been sentenced to seven years in prison in the United States (U.S.)
This follows his involvement in a multimillion-dollar business email compromise scheme.
According to the Department of Justice (DOJ), Adeagbo attempted to steal over $3 million from Texas-based victim entities, including local government institutions, construction companies and a Houston-area college.
Adeagbo was extradited from the United Kingdom to the US in August 2022 to face criminal charges.
He pleaded guilty to wire fraud and conspiracy to commit wire fraud on April 8, 2024.
READ ALSO: “No Nigerian Billionaire Without Govt Contracts, Political Patronage” – Seun Kuti
The scheme involved registering domain names similar to legitimate companies and sending fake emails to deceive clients into wiring payments to accounts controlled by Adeagbo and his accomplices.
In one instance, Adeagbo conspired to defraud a North Carolina university of over $1.9 million.
“Oludayo Adeagbo and his coconspirators perpetrated transnational cyber-enabled fraud schemes that targeted schools, government entities, and companies across the United States, and caused millions of dollars in losses,” the DOJ stated.
Adeagbo’s accomplice, Donald Echeazu, was sentenced to 18 months in prison and ordered to pay $655,408.87 in restitution for his role in the conspiracy on May 16, 2023.
Principal Deputy Assistant Attorney General, Nicole Argentieri announced the sentencing, highlighting the DOJ’s commitment to combating cyber-enabled fraud.
