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Conspirator Sentenced for Bank Fraud in Maryland
Greenbelt, Maryland – In a shocking case of financial deceit, Olumide Babafemi Ogunmakinwa, 47, of Brandywine, Maryland, was sentenced to 28 months in prison for his role in a bank fraud scheme.
The scheme, which involved the creation of counterfeit checks and the theft of money using misappropriated bank account information, was uncovered in February and March 2011. Ogunmakinwa and his co-conspirators opened bank accounts at financial institutions in their own names, in false names, and in the names of corporations they controlled.
According to the plea agreement, the conspirators obtained checks from victim individuals and corporations, which they washed to remove the actual payees’ names listed on the checks. They then printed the names of a conspirator, false names of a conspirator, or a company controlled by a conspirator onto the washed checks.
Ogunmakinwa and other co-conspirators deposited these altered checks into accounts controlled by conspirators, including accounts controlled by Ogunmakinwa. The conspirators then wrote checks on the accounts that contained victim funds, and either cashed them or deposited those checks into other accounts they controlled.
Ogunmakinwa deposited, cashed, and wrote at least nine fraudulent checks totaling approximately $97,000. The offense involved approximately 10 victims.
Nathan Silla, age 40, of Glenn Dale, Maryland, previously pleaded guilty to his role in the scheme and was sentenced to 12 years in prison, and ordered to pay $331,499.21 in restitution.
United States Attorney Rod J. Rosenstein praised the U.S. Postal Inspection Service and U.S. Secret Service for their work in the investigation. Mr. Rosenstein thanked Assistant United States Attorneys Christen A. Sproule and Jefferson M. Gray, who prosecuted the case.
Ogunmakinwa’s sentence was announced by U.S. District Judge Alexander Williams, Jr. The case is a stark reminder of the dangers of financial deceit and the importance of vigilance in protecting against such crimes.
Mandatory Facts:
- Defendant/Respondent: Olumide Babafemi Ogunmakinwa
- Criminal Charges: Conspiracy to commit bank fraud and aggravated identity theft
- City and State: Greenbelt, Maryland
- Date: Not specified (sentencing occurred in 2023)
- Sentence: 28 months in prison, followed by five years of supervised release
- Dollar Amounts: $97,000
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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