A multimillion-dollar business email compromise scheme has been busted in New York, with four defendants facing charges for their involvement in the scam.
According to the indictment, Cyril Ashu, 34, of Georgia, Ifeanyi Eke, 32, of Georgia, Joshua Ikejimba, 24, of Texas, and Chinedu Ironuah, 32, of Texas, engaged in a fraudulent business email compromise scheme that deceived various victims, including an intergovernmental organization headquartered in New York City, into diverting commercial payments from their intended beneficiaries to bank accounts controlled by the defendants and their co-conspirators.
The defendants executed this scheme by obtaining fraudulent identification documents in false names, registering and incorporating shell companies, and opening fake bank accounts at various banks throughout the United States. Victims were successfully tricked into wiring funds in accordance with fraudulent wiring instructions sent from fake email accounts, which were designed to resemble email accounts for individuals and companies with whom those victims had business relationships.
The scheme defrauded numerous victims of millions of dollars during the period from 2016 through July 2018. The defendants were arrested yesterday morning in Atlanta, Georgia, and Houston, Texas, and will be presented in federal court. One defendant, Chinedu Ironuah, remains at large.
Cyril Ashu, Ifeanyi Eke, and Joshua Ikejimba are each charged with one count of conspiracy to commit wire fraud, in violation of 18 U.S.C. § 1349, and one count of wire fraud, in violation of 18 U.S.C. § 1343. Chinedu Ironuah faces the same charges, as well as an additional count of aggravated identity theft, which carries a mandatory sentence of two years in prison.
The charges of conspiracy to commit wire fraud and wire fraud each carry a maximum penalty of 20 years in prison. The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge.
U.S. Attorney Geoffrey S. Berman praised the outstanding investigative work of the FBI, as well as the assistance of prosecutors in the Southern District of New York.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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