Reported by: Oahimire Omone Precious | Edited by: Gabriel Osa
A Nigerian-born fraud mastermind, Oluwaseun Adekoya, has been sentenced to 20 years in a United States federal prison for directing an expansive network of bank-fraud and money-laundering operations that targeted victims across multiple states. The 40-year-old, who resided in Cliffside Park, New Jersey, was convicted earlier this year after a three-week jury trial that exposed the full scale of his criminal empire.
Adekoya—known by a series of aliases including “Ace G.”, “BRODA,” “Legendary,” “SANTA,” and “Sammy LaBanco”—was found guilty of orchestrating coordinated schemes that involved stealing identities, impersonating unsuspecting individuals, and siphoning funds from bank accounts nationwide. Prosecutors detailed how he and his co-conspirators executed sophisticated operations that stole and laundered more than $2 million, moving the funds through a web of fraudulent accounts, shell structures, and money mules.
In addition to conspiracy charges, Adekoya was convicted on nine separate counts of aggravated identity theft, underscoring his repeated use of stolen personal data to access victims’ finances and deceive financial institutions. Investigators described him as the central architect who directed recruits, coordinated fraudulent withdrawals, and handled the movement of illicit proceeds.
The sentencing was formally announced by Acting U.S. Attorney John A. Sarcone III and FBI Albany Special Agent in Charge Craig L. Tremaroli, both of whom emphasized that the case highlights the federal government’s determination to dismantle criminal networks exploiting the financial system.
According to the prosecution, Adekoya’s methods involved impersonating real individuals, forging documents, hacking personal information, and manipulating banking systems to initiate unauthorized transfers and withdrawals. His operations spanned several U.S. states, making the case one of the more complex identity-theft prosecutions handled in the district.
With the 20-year sentence, federal authorities say they have taken a major fraud strategist off the grid, protecting countless potential victims and reinforcing the message that large-scale financial crimes will be aggressively pursued and severely punished.
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