COURT DOC: Massive International Fraud and Money Laundering Conspiracy Detailed in Federal Grand Jury Indictment that Charges 80 Defendants
A 252-count federal grand jury indictment unsealed today charges 80 defendants, most of whom are Nigerian nationals, with participating in a massive conspiracy to steal millions of dollars through a variety of fraud schemes and launder the funds through a Los Angeles-based money laundering network.
The indictment was unsealed after law enforcement authorities this morning arrested 14 defendants across the United States, with 11 of those arrests taking place in the Los Angeles region. Two defendants were already in federal custody on other charges, and one was arrested earlier this week. The remaining defendants are believed to be abroad, with most them located in Nigeria.
The indictment alleges that the 80 defendants and others used various online fraud schemes including business email compromise (BEC) frauds, romance scams, and schemes targeting the elderly to defraud victims out of millions of dollars. According to a criminal complaint also unsealed today, co-conspirators based in Nigeria, the United States and other countries contacted the lead defendants in the indictment Valentine Iro, 31, of Carson, and Chukwudi Christogunus Igbokwe, 38, of Gardena, both Nigerian citizens for bank and money-service accounts that could receive funds fraudulently obtained from victims. Once members of the conspiracy convinced victims to send money under false pretenses, Iro and Igbokwe coordinated the receipt of funds and oversaw an extensive money-laundering network, according to the 145-page indictment.
The indictment and criminal complaint allege that Iro and Igbokwe, who were among those arrested this morning, were involved in schemes resulting in the fraudulent transfer of at least $6 million in fraudulently-obtained funds and the overall conspiracy was responsible for the attempted theft of at least an additional $40 million. (Source: U.S. Department of Justice)