A Nigerian citizen, Oludayo Adeagbo, has been sentenced to seven years in a U.S. federal prison for his role in a multimillion-dollar business email compromise (BEC) scheme.
The U.S. Department of Justice announced the sentencing, highlighting the severe consequences of cyber-enabled fraud on both businesses and government institutions nationwide.
According to Principal Deputy Assistant Attorney General Nicole Argentieri, Adeagbo participated in several BEC schemes that aimed to defraud organizations in Texas, with losses totaling over $3 million.
Court documents revealed that the 45-year-old targeted various entities, including local governments, construction firms, and an educational institution in Houston. One notable incident involved a North Carolina university, where Adeagbo and his accomplices attempted to misappropriate over $1.9 million.
Adeagbo, who also held a British passport, was extradited from the UK to the U.S. in August 2022 to face charges in both Charlotte and Houston. On April 8, 2023, he pleaded guilty to one count of wire fraud and one count of conspiracy to commit wire fraud, with the case transferred to the U.S. District Court for the Western District of North Carolina.
The Department of Justice emphasized the transnational nature of Adeagbo’s operations, which targeted schools, government entities, and businesses across the U.S., causing millions in losses.
Another Nigerian conspirator, 42-year-old Donald Echeazu, was also extradited from the UK for his role in defrauding the North Carolina university. Echeazu was sentenced to 18 months in prison on May 16, 2023, followed by a year of supervised release, and was ordered to pay $655,408.87 in restitution.
These cases underscore the ongoing global threat of cybercrime and the importance of international cooperation to address it.
