Nadine Jazimne Wade has been sentenced to 63 months in prison for laundering over $2 million acquired from romance fraud schemes. The sentence was handed down by U.S. District Judge Katherine Polk Failla, following a two-week trial where Wade was convicted of money laundering and bank fraud charges.
"Nadine Wade used lies and deception to launder over two million dollars for scam artists in Nigeria and South Africa," stated U.S. Attorney Jay Clayton. "Those funds were stolen from our most vulnerable – elderly men and women — as part of a cruel romance scam. Today’s sentence should be a reminder that this Office will pursue all persons who participate in online scams targeting our elderly."
The indictment, court proceedings, and evidence at trial revealed that from 2016 through 2021, co-conspirators based in Nigeria and South Africa executed romance scams against individuals across the United States. Using aliases like "Diego Francisco" and "Richard Francisco," they engaged victims on dating websites, later asking them for money which was then transferred to accounts controlled by Wade.
Wade received the fraud proceeds into personal and business bank accounts under her shell company Royal Treasure Chest LLC, which purportedly sold women's clothing and accessories. She rapidly withdrew these funds through various means after taking her cut before transferring the majority to other scheme members.
Between 2016 and 2021, Wade managed more than 18 bank accounts with deposits exceeding $2 million, primarily from U.S.-based victims of the romance fraud scam.
In addition to her prison term, Wade, aged 30 from the Bronx, New York, faces three years of supervised release and must pay restitution amounting to $1,772,618 while forfeiting $2,261,791.
U.S. Attorney Clayton commended the efforts of the U.S. Secret Service and the Internal Revenue Service's Criminal Investigation unit in this case. The prosecution is being managed by Assistant U.S. Attorneys Micah F. Fergenson, Matthew J. King, Dina McLeod with support from Paralegal Specialist Jayda Foote.
