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Canada based Nigerian sentenced to eight years by US for fraud

Thu, 29 Jul 2021 Source: www.bbc.com

US court don sentence Olumide Bankole Morakinyo, one Nigerian wey dey stay for Canada to eight years in prison for Defrauding Texas Employees Retirement System.

Di court wey dey di Western District of Texas also say Morakinyo go repay back $975,863 to multiple victims for conspiracy to commit money laundering.

U.S. District Judge Robert Pitman also order say make dem place Morakinyo on three years of supervised release afta e don complete im prison term.

Dis sentence dey come afta Nigeria Instagram celebrity Ramon Abass AKA 'Hushpuppi' plead guilty to Count Two of di charges against am for US court, wey be Conspiracy to Engage in Money Laundering.

How Olumide Bankole Morakinyo take commit the fraud

According to court documents, Morakinyo wey be 38 years old conspire with one Lukman Aminu wey dey stay for New Hampshire to create illegal accounts for participants for di online portal of di Employees Retirement System of Texas (ERS).

Dem come use Personally identifiable information (PII) of various ERS participants to make changes to dia accounts for di ERS online portal.

Dem come change Bank deposit information on file inside di system to re-route retirement payments to debit cards wey Aminu dey control.

Aminu wey get di physical debit cards go withdraw money under instructions from Morakinyo and den transfer or deposit dat money according to di direction from Morakinyo.

"Dem also use di debit cards for cash withdrawals and to purchase money orders for personal expenses and for buying used vehicles wey dey go ship overseas to Nigeria and Benin to resell."

"With dis international automobile transactions, Morakinyo and im gang member launder di fraud proceeds by hiding di source of di funds and making di money appear to be legitimate income." Di court documents add.

Meanwhile, U.S. Attorney Ashley C. Hoff tok say dia office go use all of di available legal tools to identify and bring to justice those wey dey commit cyber-enabled fraud and launder di proceeds.

Source: www.bbc.com