Olumide Olorunfunmi, a 39-year-old Nigerian national, entered a guilty plea in federal court in Charlotte, North Carolina, for his involvement in laundering money connected to romance scams and business email compromise schemes. U.S. Attorney Russ Ferguson for the Western District of North Carolina made the announcement, highlighting that the fraudulent activities led to over 125 victims losing more than $4.5 million.
The investigation was carried out in partnership with the Federal Bureau of Investigation. Robert M. DeWitt, Special Agent in Charge of the FBI in North Carolina, joined U.S. Attorney Ferguson for the announcement.
Olorunfunmi's co-conspirators included Samson Amos, 53, who pleaded guilty to conspiracy to operate an unlicensed money transmitting business, and Emmanuel Unuigbe, 42, who admitted to money laundering conspiracy and similar charges. Sentencing for Olorunfunmi and his associates has yet to be scheduled, with the money laundering conspiracy charge carrying a potential 20-year prison term.
Court documents reveal that between 2020 and 2023, Olorunfunmi coordinated with Amos, Unuigbe, and others in directing victims to transfer funds to bank accounts under their control, both domestically and internationally. The proceeds were subsequently moved to other accounts worldwide. By keeping portions of the illicit profits, the co-conspirators further benefitted from converting funds into Nigerian Naira at a black market exchange rate.
Business Email Compromise (BEC) schemes, a key aspect of the fraud, involve criminals impersonating legitimate email users to deceive businesses or individuals into wiring money to unauthorized accounts. These schemes often support larger criminal networks with operations in various countries.
Romance scams, another element of the fraud, exploit victims' trust by creating false romantic relationships online to solicit money. Scammers operate on dating and social media platforms, often pretending to work in industries that provide excuses to avoid in-person meetings.
U.S. Attorney Ferguson expressed gratitude to the FBI for their role in the investigation. The prosecution is being led by Assistant U.S. Attorney Daniel Ryan in Charlotte.
For victims of online scams, the FBI's Internet Crime Complaint Center (IC3) is a resource where they can report incidents by visiting ic3.gov.
