Three Nigerian men residing in the United States—Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe—are facing a possible combined 60-year prison sentence after pleading guilty to their involvement in a large-scale money laundering operation linked to romance scams and business email compromise (BEC) fraud.
Olorunfunmi, 39, admitted guilt in a Charlotte, North Carolina, federal court on Friday, confessing to laundering millions of dollars stolen from over 125 victims. U.S. Attorney for the Western District of North Carolina, Russ Ferguson, confirmed the plea, highlighting the significant financial damage inflicted on unsuspecting victims.
According to court records, between 2020 and 2023, Olorunfunmi collaborated with Amos, 53, and Unuigbe, 42, in orchestrating fraudulent schemes. Their operations involved tricking elderly victims through romance scams and deceiving businesses via BEC fraud. The victims were manipulated into transferring money into accounts controlled by the group, after which the funds were dispersed through multiple financial channels in the U.S. and overseas to conceal their origins.
Two other co-conspirators have also admitted guilt and are awaiting sentencing. Amos pleaded guilty to running an unlicensed money-transmitting business, while Unuigbe was charged with conspiracy to commit money laundering and operating an illegal money transfer scheme.
Investigators discovered that the defendants personally benefited from the fraud, taking a portion of the stolen funds and converting U.S. dollars into Nigerian Naira at black market rates. The money laundering charge alone carries a maximum penalty of 20 years in prison for each defendant, though sentencing dates have not yet been scheduled.
BEC fraud involves cybercriminals gaining unauthorized access to business email accounts or creating fake ones to impersonate employees or executives. They then send deceptive wire transfer instructions to companies, redirecting funds to fraudulent accounts. These funds are quickly transferred across various accounts, making recovery difficult.
Additionally, the defendants engaged in romance scams, in which fraudsters assume false identities online to build relationships with victims before fabricating financial emergencies to solicit money. These scams often target vulnerable individuals, particularly the elderly.
Robert M. DeWitt, Special Agent in Charge of the FBI in North Carolina, commended investigators for dismantling the fraudulent network, emphasizing law enforcement’s commitment to combating financial crimes. U.S. Attorney Ferguson also acknowledged the FBI’s role in uncovering the scheme. Assistant U.S. Attorney Daniel Ryan is prosecuting the case.
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