Nigerian National Sentenced for $6.3M Business Email Compromise Scheme

A federal jury in New Haven, Connecticut, has convicted a Nigerian national, Okechuckwu Valentine Osuji, 39, for operating a business email compromise scheme that netted over $6.3 million in losses and intended losses.

According to court documents and evidence presented at trial, Osuji and his co-conspirators targeted specific individuals and businesses by masquerading as trustworthy entities in electronic communications to obtain money. They utilized unwitting and witting “money mules” to receive fraud proceeds in their bank accounts, and then transferred those funds to accounts under the control of Osuji and his co-conspirators or to convert the stolen proceeds to cash for further transfer.

The victims included a Connecticut-based financial company, a Colorado-based lending company, an Alaska-based nonprofit performing arts organization, a New York-based food and beverage company, and others. As a result of the scheme, numerous victims were tricked into transferring funds into bank accounts the victims believed were under the control of legitimate recipients of the funds as part of normal business operations, when in reality, the bank accounts were controlled by Osuji and his co-conspirators.

“While it is often difficult to identify and bring to justice cybercriminals operating overseas, today’s verdict demonstrates the expertise of the FBI and Stamford Police in uncovering this criminal network, and the shared commitment of our counterparts in Malaysia to ensure that fraudsters are held accountable in a court of law,” said U.S. Attorney Vanessa Roberts Avery.

“Osuji led a network of scammers in Malaysia and elsewhere in a sophisticated business email compromise scheme to defraud victims of millions of dollars,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Today’s conviction is another example of how the Department’s collaboration with international law enforcement partners enables us to bring cybercriminals to justice in the United States.”

Osuji faces a mandatory minimum of two years on the identity theft count and a maximum penalty of 60 years in prison on the wire fraud and conspiracy counts. He is scheduled to be sentenced on July 24. His alleged co-conspirator, John Wamuigah, remains in Malaysia and is pending extradition proceedings. Another co-conspirator, Tolulope Bodunde, pleaded guilty on February 10.