Oluwaseun Adekoya, also known by several aliases including "Ace G." and "BRODA," has been convicted of bank fraud conspiracy, money laundering conspiracy, and multiple counts of aggravated identity theft. The verdict was delivered by a jury in Albany, New York, after a trial lasting two and a half weeks. United States Attorney John A. Sarcone III and FBI Special Agent in Charge Craig L. Tremaroli announced the conviction.
Sarcone stated, “With the last set of pleas in this case, I said, ‘and then there was one;’ now, there are none.” He praised the collaborative efforts that led to Adekoya's conviction.
Special Agent Tremaroli remarked on Adekoya's intricate fraudulent operations: “Mr. Adekoya was the mastermind of a complex web of deception, but he couldn’t escape the reach of the FBI and our partners."
During the trial, evidence showed that from his New Jersey apartment, Adekoya accessed public information on home equity lines of credit at credit unions across the U.S., using encrypted messaging platforms to gather personal identifying information for individuals with significant equity available. He then coordinated with managers nationwide to impersonate these individuals for fraudulent transactions.
Adekoya’s activities came under scrutiny in May 2022 when Broadview Federal Credit Union reported suspicious transactions to the FBI-Albany. This led to an investigation revealing Adekoya as the leader behind these crimes and resulted in charges against 13 additional conspirators who have since pled guilty.
On December 12, 2023, federal authorities arrested Adekoya following an indictment. During a search of his residence, agents seized numerous burner phones used in his schemes along with luxury items and cash tied to his criminal activities.
Adekoya faces sentencing on October 30, 2025. He could receive up to 32 years' imprisonment along with other penalties such as restitution and deportation post-sentence.
The prosecution team includes Assistant United States Attorneys Benjamin S. Clark, Mathew M. Paulbeck, and Joshua R. Rosenthal.
