The U.S. Department of Justice seized another three members of a massive money laundering ring, taking down a scheme that bilked corporate and individual victims out of over $10 million.
SUNDAY OKORO, 32, COLLINS ENEH, 28, and IKECHUKWU ELENDU, 35, face federal charges of conspiracy to commit money laundering and bank fraud, carrying maximum sentences of 20 and 30 years in prison respectively.
The money laundering ring, which operated from March 2018 to January 2020, concocted a myriad of schemes to defraud its victims, using business email compromises and romance scams to funnel millions of dollars into bank accounts controlled by the conspirators.
The group, which included 11 other defendants previously charged in the case, laundered the proceeds through a complex network of bank accounts and foreign transactions, ultimately withdrawing the money in cash or transferring it to offshore bank accounts.
Acting U.S. Attorney Audrey Strauss praised the efforts of the Secret Service, FBI, CBP, and Special Agents of her office, saying, ‘Thanks to the efforts of the Secret Service, the FBI, CBP, and Special Agents of my Office, the defendants face federal charges.’
The U.S. Secret Service’s Deputy Special Agent in Charge, Patrick Freaney, added, ‘The U.S. Secret Service is committed to working with our law enforcement partners to combat cyber-enabled fraud.’
The FBI’s Assistant Director, William F. Sweeney Jr., warned businesses to remain vigilant against the threat of business email compromises, saying, ‘This type of cyber threat is a constant hazard lurking below the surface to every business, regardless of its size.’
The three defendants, OKORO, ENEH, and ELENDU, are currently behind bars, with OKORO set to appear before a U.S. Magistrate Judge in Georgia tomorrow and ELENDU scheduled to appear in California. ENEH remains at large.
The Superseding Indictment charges OKORO, ENEH, and ELENDU with one count of conspiracy to commit money laundering and one count of conspiracy to commit bank fraud. If convicted, they face up to 20 and 30 years in prison respectively.
The case has been assigned to U.S. District Judge Denise L. Cote.
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- 19 Arrested in International Romance Scam · Mississippi
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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