The Federal Bureau of Investigation (FBI) has announced the sentencing of Nigerian national Oluwaseun Adekoya to 20 years in a U.S. federal prison after a jury found him guilty of orchestrating a nationwide bank fraud and money laundering network that stole and laundered over $2 million through impersonation and identity theft.
The sentence was handed down in the Northern District of New York after a three week trial earlier this year, during which prosecutors detailed how Adekoya operated from his New Jersey apartment, used encrypted platforms to obtain personal data, and coordinated accomplices across multiple states. The case was investigated by FBI Albany with support from law-enforcement agencies nationwide.
On Friday, the FBI announced the outcome on its official X page, stating:
“Operation Catch Me if You Can: Nigerian Ringleader of Nationwide Bank Fraud and Money Laundering Conspiracies Sentenced to Twenty Years in Prison
Serial Scammer Oluwaseun Adekoya, a/k/a ‘Ace G.,’ a/k/a ‘BRODA,’ a/k/a ‘Legendary,’ a/k/a ‘SANTA,’ a/k/a ‘SANTANA,’ a/k/a ‘Sammy LaBanco,’ a/k/a ‘Sean Maison,’ a/k/a ‘Kiing_maison,’ led conspiracies that stole and laundered over $2 million by impersonating people all over the country.
@FBIAlbany investigated the case and received invaluable assistance from numerous law enforcement agencies across the country.”
A photo attached to the announcement contained a comment from FBI Albany Special Agent in Charge Craig Tremaroli, stating:
“Mr. Adekoya spent almost two decades of his life creating a massive criminal network that stole from hard-working Americans. This sentence ensures he’ll spend the next two decades of his life in federal prison.
The FBI is grateful to the numerous law enforcement and banking institution partners who provided the assistance needed to take down Mr. Adekoya and his associates and ensure justice for the victims. We remain deeply committed to using every resource available to investigate and bring to justice any individual or organization focused on defrauding our citizens.”
According to information released by the U.S. Attorney’s Office for the Northern District of New York, Adekoya, known by multiple aliases, ran an operation that targeted individuals with substantial Home Equity Lines of Credit (HELOCs) across U.S. credit unions. Trial evidence showed that he sourced personal identifying information, including Social Security numbers and account details, through encrypted channels and distributed them to managers nationwide. Lower-level recruits used fake driver’s licences to impersonate victims and withdraw funds.
Prosecutors said Adekoya used burner phones, encrypted apps and accounts opened in other people’s names to conceal the scheme. He also reinvested the proceeds into sustaining the operation by funding travel, forged documents and rental cars for his network. U.S. District Judge Mae A. D’Agostino described him as “a perpetual thief” and “a flagrant serial offender.”
Acting United States Attorney John A. Sarcone III stated:
“For nearly two decades, Oluwaseun Adekoya abused the privilege of lawful permanent resident status to steal the identities of innocent Americans so he could live lavishly in our country, without an ounce of remorse. Now he gets to spend two decades in prison, and he deserves every last day of his sentence. I look forward to his subsequent removal from the United States.”
The investigation began in May 2022 when Broadview Federal Credit Union in Albany detected impersonation attempts and alerted the FBI. That referral led to the exposure of Adekoya’s nationwide network and the prosecution of 13 additional co-conspirators, all of whom have pled guilty.
Adekoya was arrested on December 12, 2023. When agents attempted to execute a search warrant at his residence, he wiped the primary phone used in the operation. Still, investigators recovered multiple burner devices and seized luxury items including Rolex watches, designer goods, a $51,000 Tiffany engagement ring, and about $26,000 in a laundering account, all of which have been forfeited.
In addition to his 20 year sentence, Adekoya must serve five years of supervised release, pay over $2.2 million in restitution, and will face removal from the United States after completing his prison term.
Other defendants received sentences ranging from time served to 11 years in prison, with varying restitution orders. One remaining co-defendant is scheduled for sentencing next year.
The FBI said the investigation received support from law enforcement agencies across more than a dozen U.S. states, including New York, New Jersey, Virginia, Wisconsin, Florida, Pennsylvania, Alabama, Georgia, Maryland, Kansas, New Hampshire, Delaware, Indiana and federal agencies such as ICE, the U.S. Postal Inspection Service and the Social Security Administration Office of Inspector General.
Assistant United States Attorneys Benjamin S. Clark, Mathew M. Paulbeck and Joshua R. Rosenthal prosecuted the case.
Ademide Adebayo
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