A U.S. federal jury has convicted Oluwafemi Michael Awoyemi and two co-defendants for their roles in a $215 million international cybercrime and money laundering scheme that defrauded over 1,000 victims across 47 U.S. states and 19 countries.
The development was disclosed in a statement issued on Thursday, April 30, by the United States Attorney’s Office for the Northern District of Ohio.
The convictions followed a four-day federal trial in Toledo, Ohio, where prosecutors detailed how the Nigerian-linked business email compromise syndicate executed large-scale email hacking, fraudulent payment diversion, and global money laundering operations.
According to U.S. prosecutors, Awoyemi, 40, alongside Aruan Drake, 37, and Peter Reed, 35, was found guilty of wire fraud conspiracy, while Awoyemi and Drake were also convicted of money laundering conspiracy.
Court evidence showed the syndicate targeted businesses, organizations, and individuals by hacking email accounts, monitoring communications, and sending fraudulent payment requests disguised as legitimate financial instructions.
These fraudulent transactions redirected large sums into shell company accounts, after which the proceeds were laundered through fake business entities, fraudulent cashier’s checks, and money service channels to conceal the stolen funds.
Prosecutors revealed that approximately $50 million of the stolen proceeds was processed through a Chicago-area currency exchange operated by co-defendant Lon Goodman, who allegedly accepted fraudulent checks and false identification despite repeated warnings from financial institutions.
The investigation was led by the FBI Cleveland Division, the U.S. Postal Inspection Service, and the U.S. Border Patrol Sandusky Bay Intelligence Unit, with sentencing to be determined based on each defendant’s criminal history and role in the conspiracy.
The conviction of Awoyemi and his co-defendants adds to a growing number of fraud-related prosecutions involving Nigerian nationals in the United States.
These cases reflect increasing scrutiny by U.S. authorities on transnational cybercrime networks and the growing legal consequences for individuals involved in sophisticated international fraud operations.