A 37-year-old Nigerian man, Oluwasegun Baiyewu, has been convicted by a U.S. federal jury in Puerto Rico for conspiracy to launder funds connected to large-scale wire, mail, and access device fraud schemes.
The conviction followed a 22-day trial in San Juan, according to a statement from the U.S. Department of Justice. Baiyewu, who resides in Richmond, Texas, is the fifth Nigerian linked to the fraud ring.
Others convicted include Oluwaseun Adelekan, 40, and Temitope Omotayo, 40, both of Staten Island, New York; Ifeoluwa Dudubo, 37, of Austin, Texas; and Temitope Suleiman, 37.
How The Fraud Operated
Court documents revealed that the men conspired to launder money from international fraud schemes. These included romance scams, pandemic relief unemployment insurance fraud, and business email compromise crimes.
Many victims were elderly or vulnerable Americans who lost their life savings.
The indictment showed that between 2020 and 2021, the group worked together to “clean” scam proceeds. Victims were in California, Illinois, Washington, and Nevada, while businesses in Puerto Rico and Missouri were also defrauded.
After receiving the stolen funds, the conspirators carried out hundreds of financial transactions. Part of the money was used to buy used cars in the U.S., which were then exported to Nigeria.
What U.S. authorities said
“The defendants will be sentenced before the Honorable Raúl M. Arias-Marxuach for the District of Puerto Rico,” the Department of Justice confirmed.
U.S. Attorney W. Stephen Muldrow said, “The defendant participated in a money laundering scheme turning illicit gains into a facade of legitimacy, especially those involving seniors or other vulnerable people, and businesses in Puerto Rico and the United States.”
He added, “The United States Attorney’s Office and our law enforcement partners commitment to investigate criminals who steal money sends a clear message: justice will prevail, and those who exploit others for personal gain will be held accountable.”
Assistant Attorney General Brett A. Shumate also noted, “The Department of Justice will continue to identify and prosecute the fraudsters who design complex fraud schemes and the launderers that receive victim proceeds and make sure the crimes are profitable.”
He warned global crime networks that “this conviction is a message to the transnational organised crime groups and their accomplices who take advantage of our open financial system: you cannot victimise Americans with impunity.”
The sentencing date has not yet been announced, but the defendants could end up serving several years in a U.S. federal prison.
What do you think – are fraud networks becoming too sophisticated for ordinary victims to detect and avoid, or should awareness campaigns do more to protect seniors, more than just law enforcement after the fact?
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