The Digest:
A United States court has sentenced Oluwaseun Adekoya, a 40-year-old Nigerian resident of New Jersey, to 20 years in prison for masterminding a vast bank fraud and identity-theft scheme. Described by prosecutors as a “career fraudster” and “perpetual thief,” Adekoya orchestrated thefts from home equity lines of credit across the U.S., funding a lavish lifestyle before his arrest.
Key Points:
- Oluwaseun Adekoya was sentenced to 20 years in prison for a nationwide bank fraud conspiracy.
- The scheme targeted home equity lines of credit using stolen identities and fake driver’s licenses.
- Adekoya operated under multiple aliases and used encrypted messaging to manage a network of co-conspirators.
- The FBI seized luxury items, including Rolex watches and a $51,000 Tiffany ring, during his arrest.
- Prosecutors said he abused his lawful permanent resident status to steal from “hard-working Americans.”
- He was ordered to pay over $2.2 million in restitution and faces deportation after his prison term.
- Thirteen co-conspirators pleaded guilty and received varying prison sentences.
- The judge described Adekoya as a “flagrant serial offender” who began his criminal career at age 22.
Sources: TheCable, U.S. Attorney’s Office for the Northern District of New York.
