Nigerian, Accomplices Stole $12m
A Nigerian man, Kolade Akinwale Ojelade has been sentenced to over 26 years in prison for defrauding prospective homeowners through a phishing scam.
Ojelade, 34, living in Leicester, was indicted in February 2023, extradited from the U.K. in April 2024, and pleaded guilty to wire fraud and aggravated identity theft, U.S Attorney General’s Office Northern District of Texas, said in a statement on Friday.
FBI Dallas is seeking to identify persons or businesses that may be victims of an alleged business email compromise (BEC) fraud scheme.
On May 10, 2023, a federal grand jury charged Kolade Akinwale Ojelade with wire fraud, conspiracy to commit wire fraud, wire fraud affecting a financial institution, and aggravated identity theft in a 12-count indictment.
The indictment alleges that Ojelade and his coconspirators devised a scheme to defraud companies, individuals, schools, government entities, and others by compromising victim email accounts and intercepting email communications with the intent to divert victim wire transactions to bank accounts controlled by Ojelade and his co-conspirators.
“District Judge Reed O’Connor sentenced him to 292 months for wire fraud and 24 months for identity theft, to be served consecutively, totalling 316 months, and ordered him to pay nearly $3.4 million in restitution.”
The state revealed that Ojelade’s scheme involved sending phishing emails to real estate companies, gaining unauthorized access to their accounts, and intercepting wire payment instructions to redirect funds to accounts he controlled.
Prosecutors noted the intended loss was over $100 million, with actual losses around $12 million.
The investigation was led by the FBI’s Dallas Field Office, with assistance from U.K. authorities and the U.S. Marshals Service.
After serving his sentence, Ojelade will face deportation, the state added.
Meanwhile, the Consumer Financial Protection Bureau advises homeowners to verify wiring instructions directly and to report suspected scams to their banks.
