Ten Nigerians Convicted in US Internet Fraud Scheme, $125m Illicit Gains Seized

Ten Nigerian nationals and their co-conspirators were convicted in a US federal court for running a transnational internet fraud operation that stole an estimated $125 million from individuals and businesses. Prosecutors allege the group hacked email accounts, obtained sensitive information and sent fake invoices to extract payments. About $50 million of the proceeds were laundered through cashier’s checks and shell companies linked to a Chicago-area currency exchange. FBI raids recovered nearly $1.2 million in cash, checks and cryptocurrency, luxury watches and a Georgia residence. Sentencing dates will be set based on each defendant’s role and prior record.

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