THREE NIGERIANS IN U.S. FACE 60 YEARS IN PRISON FOR MONEY LAUNDERING

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Three Nigerians in the U.S., Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe, face up to 60 years in prison for allegedly laundering $4.5 million.

According to a U.S. Department of Justice statement released on Sunday, the trio conspired to launder funds, resulting in losses for about 125 victims.

The funds were reportedly linked to romance scams and business email compromise schemes.

While Amos and Unuigbe pleaded guilty in 2023, Olorunfunmi admitted guilt during his federal court arraignment on Friday.

It read, “Olumide Olorunfunmi, 39, a Nigerian national, appeared in federal court in Charlotte today and pleaded guilty to money laundering conspiracy for laundering millions in criminal proceeds linked to romance scams and business email compromise schemes.

“According to documents filed with the court and today’s plea hearing, the scheme caused more than 125 victims to transfer over $4.5 million of proceeds stemming from illegal activities.”

“Two of Olorunfunmi’s co-conspirators, both Nigerian nationals, have also pleaded guilty to federal charges and are awaiting sentencing.”

Emphasizing each individual’s role in the scheme, the statement revealed that victims were instructed to deposit funds into accounts controlled by Amos and his co-conspirators, who then funneled the money into accounts in Nigeria.

Between 2020 and 2023, the defendants also retained a portion of the funds deposited by the victims as part of the scheme.

It continued, “As Olorunfunmi admitted in court today, from 2020 through 2023, Olorunfunmi conspired with Amos, Unuigbe, and others to launder the criminal proceeds of various illegal activities, including romance scams that typically targeted elderly victims and business email compromise schemes.

“Court records show that the victims of the schemes were directed to transfer funds into domestic and international bank accounts controlled by Olorunfunmi and his co-conspirators. Upon receiving the fraud proceeds, Olorunfunmi and his co-conspirators transferred the funds to other bank accounts, in the U.S. and overseas.

“They also profited by agreeing to ‘pay’ for the domestic deposits received by others by transferring Nigerian Naira from accounts the co-conspirators controlled in Nigeria to other accounts, based upon a “black market” exchange rate for United States Dollars to Naira.”

The statement concluded that each of the defendants risks 20 20-year jail term for the offence of conspiracy.

“The charge of money laundering conspiracy carries a maximum sentence of 20 years in prison. A sentencing date has not been set,” it concluded.