British-Nigerian sentenced to 7 years in jail

Oludayo Adeagbo, a 45-year-old Nigerian-British man, has been sentenced to seven years in prison in the U.S. for his role in a multimillion-dollar business email compromise (BEC) scheme. According to the U.S. Department of Justice, court documents reveal that Adeagbo conspired in multiple cyber-enabled BEC schemes, attempting to steal over $3 million from various entities in Texas, including local governments, construction firms, and a college in Houston. He and his accomplices also allegedly defrauded a university in North Carolina of more than $1.9 million.

Adeagbo was extradited from the UK to the U.S. in August 2022 to face charges filed in Charlotte and Houston. He pleaded guilty to one count each of wire fraud and conspiracy to commit wire fraud on August 8, following the transfer of his case from the Southern District of Texas to the Western District of North Carolina.

Nicole Argentieri, head of the Justice Department’s Criminal Division, stated that Adeagbo and his co-conspirators executed international fraud schemes targeting schools, government agencies, and businesses, resulting in significant financial losses. She emphasized the collaboration with law enforcement to pursue cybercriminals, thanking the UK for its support.

Alamdar S. Hamdani, an attorney for the Southern District of Texas, described Adeagbo as operating a sophisticated cybercriminal enterprise using fake email accounts and anonymous internet addresses to exploit victims. He noted that BEC scams have become widespread, causing major financial losses and undermining trust in digital communications.

BEC schemes involve criminals gaining unauthorized access to legitimate email accounts or creating similar accounts to deceive targets into transferring funds to accounts controlled by the perpetrators. Typically, the stolen money is quickly moved to other accounts in the U.S. or abroad.