A Rhode Island woman pleaded guilty on July 30, 2026, in federal court to operating an unlicensed money transmitting business that moved funds between individuals in the United States and foreign countries. Bukky Olukoga, 52, entered her plea before U.S. District Court Chief Judge John J. McConnell, Jr., and is scheduled for sentencing on October 27, 2026. The sentence will be determined by a federal district court judge after considering the U.S. Sentencing Guidelines and other statutory factors.
According to court documents, Olukoga owned and controlled Grace’s Property Investment LLC, which used her previous and current residential addresses as business locations. She opened and maintained accounts at several financial institutions—including Santander Bank, Washington Trust, Citizens Bank, TD Bank, and Bank of America—using both her name and the company’s name. Additionally, she created peer-to-peer mobile payment accounts such as Cash App and Zelle.
Between at least February 16, 2020, and April 17, 2022, Olukoga received funds from third parties through cash deposits, money orders, and electronic transfers into accounts under her control; she then transferred those funds to bank accounts held by individuals or entities overseas—including recipients in Nigeria and China—and collected a fee for these transfers made on behalf of third parties.
Olukoga did not possess the required licenses at either the state or federal level to operate a money transmitting business. As part of her plea agreement with prosecutors led by Assistant United States Attorney Denise M. Barton—and following an investigation conducted by Homeland Security Investigations—Olukoga agreed to forfeit approximately $203,969 in assets involved in or derived from the offense.
The U.S. Attorney for the District of Rhode Island enforces federal laws across the state through prosecutions that safeguard public safety and promote safer communities with initiatives like the Elder Justice Program; it operates under the United States Department of Justice while working alongside agencies such as the Federal Bureau of Investigation, according to its official website.