Hayden O’Byrne, United States Attorney for the Southern District of Florida | Law Net
A Nigerian national has been extradited to the United States to face charges related to a multi-million dollar mortgage fraud scheme. Okechukwu Josiah Odunna, 60, appeared in a federal court in Miami, accused of orchestrating a fraudulent operation that resulted in approximately $8 million in losses for U.S. financial institutions.
Odunna faces charges of wire fraud and conspiracy to commit wire fraud affecting a financial institution. He was arrested on September 24, 2024, by Nigerian authorities following a U.S. extradition request and was extradited to Florida on March 6 after waiving his right to contest the extradition.
The indictment alleges that between December 2005 and May 2008, Odunna and his co-conspirators executed a scheme to defraud U.S. banks by submitting false loan applications and documents for the purchase of residential properties. This included using fake names for borrowers, inflating sale prices, and falsifying details about fund disbursements.
Odunna, who was a licensed attorney at the time, also served as one of the directors of Direct Title and Escrow Services, Inc., where he acted as the settlement agent in around 20 fraudulent property closings. To conceal their actions, Odunna and his associates allegedly provided misleading settlement statements to sellers and lenders.
Among Odunna's co-conspirators were Karl Oreste, Marie Lucie Tondreau, and Kelly Augustin. Oreste pleaded guilty and received a sentence of 100 months in prison. Tondreau, former Mayor of North Miami, was convicted at trial and sentenced to 65 months. Augustin remains at large.
If convicted on all charges, Odunna could face up to 30 years in prison for each count of conspiracy to commit wire fraud affecting a financial institution and wire fraud affecting a financial institution. Additional penalties may include fines and supervised release after any prison term is served.
U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida announced the case alongside Acting Special Agent in Charge Brett Skiles of the FBI Miami Field Office and Commissioner Russell C. Weigel III from the Florida Office of Financial Regulation (OFR).
The FBI Miami office and OFR are conducting investigations into this case with significant assistance from various international bodies including Nigeria's Ministry of Justice and Economic Financial Crimes Commission.
Assistant U.S. Attorney Ana Maria Martinez is prosecuting the case with Assistant U.S. Attorney Daren Grove handling asset forfeiture matters.
Court documents related to this case can be accessed through the website of the District Court for the Southern District of Florida under case number 14-cr-20349.
