On April 24, 2026, a U.S. federal jury convicted key members of an international fraud syndicate, bringing the total number of people convicted in the case to 25 individuals. The scheme involved over $215 million stolen from more than 1,000 victims across the world.
The operation, known as Business Email Compromise (BEC), involved hacking into email accounts of individuals and companies, monitoring their communications, and then sending fraudulent payment requests that appeared legitimate. The fraud spanned 47 U.S. states and 19 countries, including the UK, UAE, Germany, Australia, and others.
Investigators identified several Nigerians or Nigerian-linked individuals among those convicted or who pleaded guilty, including Oluwafemi Michael Awoyemi, Emmauel Okereke, Olalekan Bashiru, Jeremiah Agina, and Ademola Balogun.
The syndicate gained access to email accounts, studied business transactions, and sent convincing fake payment instructions. Victims unknowingly transferred funds into accounts controlled by the group, after which the money was moved through multiple bank accounts and laundering channels. In one instance, a victim business transferred $2.7 million to a fake company account.
Authorities also seized about $1.2 million in cash, cryptocurrency, and checks, along with luxury items and a 4,423 square foot residence in Georgia linked to the operation.
All 25 defendants are awaiting sentencing, which will be determined based on their roles and criminal histories.
Cases like this continue to put Nigeria in a bad light internationally. While many Nigerians are working hard and making positive impacts abroad, the actions of a few individuals involved in fraud and cybercrime keep damaging the country’s reputation and making things more difficult for others who are legitimate.
