Nigerian, Oludayo Adeagbo, sentenced to seven years in US for multimillion-dollar fraud scheme
Oludayo Adeagbo, a Nigerian national, has been sentenced to seven years in prison in the United States for his involvement in a multimillion-dollar business email compromise (BEC) scheme. The US Department of Justice (DOJ), through Principal Deputy Assistant Attorney General Nicole Argentieri, announced the sentencing.
Adeagbo was involved in several cyber-enabled BEC schemes aimed at stealing over $3 million from victims in Texas. According to court documents, the 45-year-old targeted local government entities, construction companies, and a college in the Houston area. He also conspired with accomplices to defraud a North Carolina university of more than $1.9 million.
Extradited from the United Kingdom in August 2022, Adeagbo faced charges in both Charlotte and Houston. On April 8, he pleaded guilty to one count each of wire fraud and conspiracy to commit wire fraud after his case was transferred to the US District Court for the Western District of North Carolina.
The DOJ revealed that Adeagbo, who also held a British passport, and his co-conspirators executed transnational fraud schemes that caused millions in losses to US-based schools, government entities, and companies.
In a related case, Adeagbo’s Nigerian accomplice, Donald Echeazu, was also extradited from the UK. Echeazu was sentenced to 18 months in prison in May 2023 for his role in the fraud, which cost a North Carolina university over $1.9 million. He was also ordered to pay $655,408.87 in restitution.
