British-Nigerian bags 7 years jail term for fraud

Oludayo Adeagbo, a British-Nigerian, has been sentenced to seven years in prison for his role in a multimillion-dollar business email compromise (BEC) fraud.

According to the US department of justice, Adeagbo, who also goes by John Edwards and John Dayo, conspired with others to steal over $3 million from different entities in Texas, including local government entities, construction companies, and a Houston-area college.

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Adeagbo along with his accomplices engaged in a fraudulent scheme that resulted in the theft of over 1.9 million dollars from a university located in North Carolina. This criminal case started back in August 2022 when Adeagbo, along with two other individuals from Nigeria named Donald Echeazu who is 42 years old and Olabanji Egbinola who is 44 years old, was extradited from their home in the United Kingdom to the United States. They were brought back to face serious charges including conspiracy, wire fraud, and money laundering which are all significant criminal activities.

According to the United States Department of Justice, these illegal actions took place across several states including North Carolina, Texas, and Virginia. On April 8, in a critical step in the legal proceedings, Adeagbo entered a guilty plea in two separate cases against him that were being heard in North Carolina and Texas. His guilty plea was related to his involvement in a business email compromise scheme, which is a type of fraud where criminals impersonate a business to trick individuals into transferring funds or sensitive information.