Oludayo Adeagbo, a 45-year-old British-Nigerian, has been sentenced to seven years in a U.S. prison for his role in a multimillion-dollar business email compromise (BEC) scheme that defrauded organizations in Texas and North Carolina. Adeagbo and his co-conspirators attempted to steal over $3 million from local governments, businesses, and a college in Texas, and succeeded in stealing $1.9 million from a university in North Carolina, according to the U.S. Department of Justice.
Court records revealed that Adeagbo and his associates also targeted a university in North Carolina, stealing more than $1.9 million. Alamdar S. Hamdani, U.S. Attorney for the Southern District of Texas, described Adeagbo’s operation as a sophisticated cyber-criminal enterprise that exploited innocent victims through fake email accounts and anonymous internet addresses.
“Business email compromise scams have become an epidemic, causing financial losses for individuals and businesses, eroding trust in digital communications, and threatening overall economic stability,” Hamdani said.
Adeagbo was extradited from the United Kingdom in August 2022 to face criminal charges in both Charlotte, North Carolina, and Houston, Texas. He pleaded guilty to one count of wire fraud and one count of conspiracy to commit wire fraud in August 2023.
Nicole Argentieri, head of the Justice Department’s Criminal Division, emphasized the collaborative effort across borders, particularly thanking the United Kingdom for its assistance in the case.
