Rita Odafe
Nigerian National Sentenced for Major Cyber Fraud
A Nigerian individual, Babatunde Francis Ayeni, has received a 10-year prison sentence for his role in a significant cyber fraud operation that affected more than 400 victims across the United States, resulting in losses nearing $20 million.
The 33-year-old Ayeni was sentenced on November 7, 2024, as per the U.S. Department of Justice.
Court records indicate that Ayeni, a Nigerian citizen residing in the UK at the time of his arrest, participated in a complex business email compromise scheme focused on U.S. real estate transactions. He pled guilty to conspiracy to commit wire fraud in April 2024.
This fraudulent operation was run by individuals located in Nigeria and the United Arab Emirates.
To execute their plan, the fraudsters sent phishing emails to title companies, real estate agents, and attorneys in the U.S., embedding harmful links and attachments. If an employee from a targeted real estate business interacted with these links, they would be prompted to input their email credentials. These credentials were then captured and sent to the criminals, including Ayeni.
The criminals used the acquired email access to watch for transactions where payments were due in real estate deals.
Ayeni and his co-conspirators then sent fraudulent email communications to buyers from the hacked accounts, which included wiring instructions.
When buyers transferred funds as per these instructions, the money was redirected to bank accounts tied to the fraudsters instead of the intended real estate transactions.
Specifically, Ayeni managed to illegally acquire email access from a real estate title firm in Gulf Shores, Alabama, allowing the group to fleece victims in Alabama and other regions.
The operation impacted over 400 individuals nationwide. Unfortunately, 231 of these victims were unable to recover their funds in time, losing a total of $19,599,969.46.
During the sentencing proceedings, U.S. District Judge Terry Moorer listened to testimonies from nearly twenty victims. Many expressed how the crime devastated their lives, leading to feelings of shame and depression, particularly as they lost savings meant for new homes.
U.S. Attorney Sean P. Costello stated, “Cyber crimes can inflict significant and enduring harm on victims in moments. Criminals may think they are safe behind screens, but cases like this illustrate the consequences they face. Together with law enforcement, we will persist in investigating and holding such fraudsters accountable regardless of their location.”
Paul Brown, the FBI’s Mobile Division Special Agent in Charge, emphasized the unacceptability of such actions in Alabama. “Hearing from victims about the serious impacts on their lives reinforces our commitment to addressing online crime. It’s gratifying to see Ayeni receive a meaningful sentence. We’ll continue to educate the public about online risks, and victims of fraud can report incidents at IC3.gov.”
Co-defendants Feyisayo Ogunsanwo and Yusuf Lasisi are still at large, suspected to be outside the U.S., with efforts underway to secure their arrest and extradition.
The investigation was led by the FBI, in collaboration with other law enforcement agencies in the UK and beyond.
Assistant U.S. Attorney Christopher Bodnar handled the prosecution. Additional support came from Amanda Chadwick and Rachel Yasser at the Department of Justice’s Office of International Affairs.
