Chicago man Gbadebo Adebiyi, 41, pled guilty today to his role in a sprawling tax fraud conspiracy that siphoned personal data from a 2015 Bradley University data breach to file false federal income tax returns. The scheme, which targeted employees’ identifying information, was designed to funnel illicit refunds into prepaid debit cards controlled by the conspirators.
Adebiyi admitted in court to conspiring with others to exploit stolen identities, filing fraudulent 2014 tax returns that directed refunds to third-party Green Dot prepaid debit cards. Those cards, purchased at retail locations across the region, were used to create permanent accounts under victims’ names. Once loaded with government funds, the cards were swiftly drained through money orders bought and cashed at Chicago-area currency exchanges.
The damage: an estimated $770,000 in intended losses to the federal government. The breach at Bradley University in March 2015 exposed sensitive employee data, which Adebiyi and his co-conspirators weaponized to feed their scam. Authorities say the operation was methodical, leveraging stolen Social Security numbers and financial details to mimic legitimate filers.
Adebiyi appeared before U.S. District Judge Joe Billy McDade in Peoria, Illinois, where he entered a guilty plea to one count of conspiracy to commit mail fraud. The charge carries a maximum statutory penalty of five years in prison. Sentencing is set for May 3, 2017. He may also be ordered to pay full restitution.
His co-defendant, Idris Akande, 35, also of Chicago, remains at large and is currently a fugitive. Federal prosecutors are pursuing charges against him as part of the ongoing investigation. Supervisory Assistant U.S. Attorney Darilynn J. Knauss is leading the prosecution.
The case was investigated by the Internal Revenue Service, Criminal Investigation Division, and the Federal Bureau of Investigation. Authorities warn that data breaches like the one at Bradley University continue to fuel sophisticated financial crimes, turning personal information into currency for criminals.
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Key Facts
- State: Illinois
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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