Three Nigerian nationals based in the United States, Olumide Olorunfunmi, Samson Amos, and Emmanuel Unuigbe, are facing a combined prison sentence of up to 60 years after pleading guilty to laundering $4.5 million obtained through romance scams and business email compromise schemes.
According to a statement from the U.S. Department of Justice obtained on Sunday, the trio conspired to move illicit funds, causing financial losses to at least 125 victims across the country.
“Olumide Olorunfunmi, 39, a Nigerian national, appeared in federal court in Charlotte today and pleaded guilty to money laundering conspiracy for laundering millions in criminal proceeds linked to romance scams and business email compromise schemes,” the statement read.
“According to documents filed with the court and today’s plea hearing, the scheme caused more than 125 victims to transfer over $4.5 million of proceeds stemming from illegal activities.”
It was revealed that Amos and Unuigbe had already pleaded guilty in 2023, while Olorunfunmi admitted his role in the scheme during his arraignment before a federal court on Friday.
The statement detailed how the fraudulent operation worked, explaining that victims were directed to deposit money into bank accounts controlled by Amos and his associates, who then transferred the funds to Nigeria while keeping a portion of the money for themselves.
“As Olorunfunmi admitted in court today, from 2020 through 2023, Olorunfunmi conspired with Amos, Unuigbe, and others to launder the criminal proceeds of various illegal activities, including romance scams that typically targeted elderly victims and business email compromise schemes,” it stated.
The court records further indicated that the group used a network of bank accounts in the U.S. and abroad to move the stolen funds, leveraging a “black market” exchange system to convert the proceeds into Nigerian Naira.
“They also profited by agreeing to ‘pay’ for the domestic deposits received by others by transferring Nigerian Naira from accounts the co-conspirators controlled in Nigeria to other accounts, based upon a black market exchange rate for United States Dollars to Naira,” the statement added.
Each defendant faces up to 20 years in prison for the money laundering conspiracy charge. The court has yet to set a sentencing date.
