Three Nigerians could face up to 60 years in jail for laundering $4.5 million, resulting in losses for over 125 victims in the US

Three Nigerian nationals, based in the United States, have pleaded guilty to their involvement in a large-scale money laundering operation linked to romance scams and business email compromise schemes.

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Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe were allegedly responsible for laundering $4.5 million, defrauding over 125 victims across the US.

According to a statement from the US Department of Justice, the trio engaged in a conspiracy that caused financial harm to numerous victims.

The funds involved were primarily proceeds from fraudulent schemes, which targeted unsuspecting individuals, often through deceptive romantic relationships or compromised business communications.

The money laundering operation ran between 2020 and 2023. During this period, victims were duped into transferring large sums of money into accounts controlled by the accused.

The money was then moved overseas, particularly to Nigeria, where it was deposited into various bank accounts, allowing the conspirators to profit from the fraud.

While Amos and Unuigbe had already pleaded guilty in 2023, Olorunfunmi admitted his role in the scheme during a court appearance on Friday.

The Department of Justice’s statement highlighted Olorunfunmi’s direct involvement in transferring criminal proceeds from the US to international bank accounts, and his role in converting the funds into Nigerian Naira through an exchange rate mechanism.

The accused are facing significant prison time, with each of them risking up to 20 years in jail for the conspiracy charge. The charge of money laundering conspiracy carries a maximum sentence of 20 years, although a sentencing date has not yet been set.

The US Department of Justice underlined the global nature of such schemes, noting that while the funds were initially transferred to domestic accounts in the US, the laundering process also involved international banking systems.

These crimes, particularly romance scams, often target vulnerable and elderly individuals, exploiting their trust for financial gain.

This case highlights the growing threat posed by international money laundering and fraudulent schemes, which have seen increasing sophistication in recent years.

It also serves as a reminder of the importance of vigilance in online financial transactions, as well as the need for tighter international cooperation in combating such crimes.