$363,939 only: 2 US-based Nigerians thrown in jail for bank fraud

by Isi Esene

Oluyinka Akinadewo, 39, was on Friday sentenced to 46 months in jail for his involvement in the use of compromised identity information to commit bank fraud in the Washington DC area of the United States of America.

His co-defendant, Adebimpe Olejiya, was earlier in the month sentenced to 35 months in jail for the same offense and an attempt to flee from the law.

The sentencings, which took place in the U.S. District Court for the District of Columbia, were announced by U.S. Attorney Ronald C. Machen Jr.; James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office; and Gary R. Barksdale, Inspector in Charge of the Washington Division of the U.S. Postal Inspection Service.

Akinadewo, a resident of Hyattsville, Maryland, pleaded guilty in April 2012 to an indictment charging him with conspiracy to commit bank fraud, while Olejiya, 31, also of Hyattsville, pleaded guilty in March 2012 to the same indictment.
Both men were sentenced by the Honorable Emmet G. Sullivan of the U.S. District Court for the District of Columbia.

The men were ordered to pay restitution of $90,987 to the financial institutions victimized by their scheme, and the court also ordered forfeiture of $90,987.

Reports say, the conspirators were able to withdraw or spend $90,987 before the fraud was detected, causing the various financial institutions and lenders to suffer combined losses of $90,987.

In total, the conspirators attempted to steal $363,939 by depositing stolen, altered, or otherwise fraudulent checks and wire transfers into fraudulent accounts.

According to the Court, Olejiya had in February removed the electronic monitoring equipment from his ankle and traveled to Lewiston, New York, in a failed attempt to escape to Canada using the U.S. passport of his co-defendant Akinadewo.

U.S. border authorities scanned Olejiya’s fingerprints and discovered his true identity.

In announcing the sentences, U.S. Attorney Machen, Assistant Director in Charge McJunkin, and Inspector in Charge Barksdale commended the investigative efforts of the FBI’s Washington Field Office, the FBI Laboratory Division, and the U.S. Postal Inspection Service.

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