Nigerian native Olumide Olorunfunmi, 39, entered a guilty plea to conspiracy to commit money laundering on Friday, March 28, 2025, in federal court in Charlotte, North Carolina.
This plan includes laundering millions of money gained through fraudulent activities such as romance scams and business email compromise (BEC) schemes, resulting in more than 125 victims transferring more than $4.5 million.
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From 2020 until 2023, Olorunfunmi collaborated with others to launder money from illicit activities, especially targeting elderly victims with romance scams and scamming corporations with BEC schemes.
Victims were instructed to transfer funds to domestic and international bank accounts controlled by Olorunfunmi and his accomplices.
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After collecting the scam earnings, they transferred the monies to other bank accounts in the United States and abroad, benefitting by keeping a portion of the illicit proceeds and engaging in currency exchanges using the “black market” conversion rate for US dollars to Nigerian nairas.
In addition, two Nigerian co-conspirators of Olorunfunmi have entered guilty pleas to federal crimes and are awaiting punishment.
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In particular, Emmanuel Unuigbe, 42, and Samson Amos, 53, entered guilty pleas to conspiracy to run an unauthorized money-transmitting company and conspiracy to commit money laundering conspiracy, respectively.
The guilty pleas demonstrate how law enforcement agencies work together to stop global fraud schemes that take advantage of weaker people and companies.
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Due to their involvement in the conspiracy, the defendants are presently awaiting punishment, which may involve lengthy jail terms.
