Acting U.S. Attorney, Nicholas J. Ganjei who was presiding over a case of fraud perpetuated by a Nigerian National, Mr. Babatope Aderinoye and his friends stated that, the ease with which they maneuver their ways through exposes the vulnerabilities of the financial systems of the United States
“The types of fraud committed by Mr. Aderinoye and his co-conspirators not only have lasting ramifications for the affected victims but also threaten the integrity of our country’s financial systems.” He said.
Mr. Nicholas made this comment after full assessment of the case involving 30-year old Babatope Aderinoye who was jailed for 34years after being caught up in a fraudulent deal of over USD 6 million.
Information emerging on the sophistication with which they beat the American financial system shows that Mr. Aderinoye was able to successfully set up 12 fake US businesses and 40 fake US bank accounts with fake US passports he obtained using other people’s identities.
Additionally, the scheme set-up by Mr. Babatope equally used e-mail and telephone compromise scams with which they pose as the original owners of such mediums to authenticate transactions on their behalf. Mr. Aderinoye and his team then transfer monies paid into these fraudulent accounts to accounts he established in Nigeria.
According to the details, he together with his co-conspirators defrauded senior citizens, schools and charities in the United States of millions of dollars. Fox4 News, also reported that, between a period of June 2018 and September 2019, Mr. Aderinoye stole more than $6.7 million from his victims.
It is believed that, so many people have fallen victims to his activities than currently known; the FBI is still in search of potential victims whilst Mr. Babatope was required to pay nearly $2 million in restitution.
To the acting attorney, Mr. Nicholas J. Ganjei, this level of fraud threatens America’s financial system which is widely considered to be that safe and well-protected against fraudulent penetration.