A 45-year-old Nigerian-British man, Oludayo Adeagbo, has been sentenced to seven years in a U.S. prison for his role in a multimillion-dollar business email compromise (BEC) scheme, according to a statement from the U.S. Department of Justice.
Court documents reveal that Adeagbo conspired in multiple cyber-enabled fraud schemes, attempting to steal more than $3 million from various Texas entities, including local governments, construction companies, and a Houston-area college. He and his accomplices were also implicated in defrauding a North Carolina university of over $1.9 million.
Adeagbo was extradited from the United Kingdom to the U.S. in August 2022 to face charges in both Texas and North Carolina. On August 8, 2024, he pleaded guilty to wire fraud and conspiracy to commit wire fraud after the case was transferred to the U.S. District Court for the Western District of North Carolina.
"Oludayo Adeagbo and his co-conspirators executed transnational cyber-enabled fraud schemes targeting schools, government entities, and businesses, causing millions in losses," said Nicole Argentieri, head of the Justice Department’s Criminal Division. She emphasized the department's dedication to pursuing cybercriminals regardless of their location, thanking the United Kingdom for its assistance.
Alamdar S. Hamdani, attorney for the Southern District of Texas, described Adeagbo as the mastermind of a sophisticated 21st-century cybercriminal enterprise. "BEC scams have become an epidemic, causing significant financial damage and eroding trust in digital communications," Hamdani said, commending the cross-jurisdictional collaboration that led to Adeagbo’s conviction.
The case underscores the growing threat posed by cybercrime and highlights the global efforts being made to combat it.
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