A 33-year-old Nigerian man, Babatunde Francis Ayeni, has been sentenced to 10 years in a U.S. federal prison for his involvement in a large-scale cyber fraud conspiracy.
The scheme, which targeted over 400 individuals across the United States, resulted in a collective loss of nearly $20 million.
The U.S. Attorney’s office in a statement said court documents and testimony revealed the convict was involved in a sophisticated business e-mail compromise scheme targeting real estate transactions in the United States.
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Ayeni, who was living in the United Kingdom when he was arrested, admitted in court in April 2024 that he was involved in a conspiracy to commit wire fraud. This guilty plea indicates that he took part in planning and executing an illegal scheme intended to deceive people for financial gain.
As provided in the official statement regarding the case, this conspiracy involved a group of individuals who operated primarily out of Nigeria and the United Arab Emirates. These individuals worked together, using various tactics to target unsuspecting victims.
To successfully execute this fraudulent scheme, the conspirators utilized phishing emails. These harmful emails were crafted to appear legitimate and included attachments and embedded links that contained malicious code. Their main targets were title companies, real estate agents, and real estate attorneys located throughout the United States. By sending these deceptive emails, the conspirators aimed to trick these professionals into providing sensitive information or accessing harmful content that would aid in their illicit activities.