A 34 year old Nigerian man, Edikan Adiakpan, living in Houston, United States, has pleaded guilty to operating an illegal money transmitting business connected to a large fraud network.
According to Acting U.S. Attorney John G.E. Marck, Adiakpan operated the unlicensed financial business through a company known as Akama Lifestyle between 2020 and 2022. Authorities said he used the business to receive and transfer money obtained from fraud related activities while keeping a percentage as profit.
Investigators revealed that the funds originated from a business email compromise scheme that targeted more than 10 victims. The fraudsters allegedly sent spoofed emails pretending to be legitimate suppliers and business partners, deceiving victims into transferring payments into fraudulent bank accounts instead of sending the money to the real vendors.
One of the victims reportedly transferred about $927,080 to the fraud network. Authorities said portions of the money were later moved to Adiakpan through his illegal operation. He also admitted to cashing a cashier’s check worth $60,000 connected to the stolen funds.
Court documents showed that Adiakpan has remained in custody and will continue to stay detained pending his sentencing hearing scheduled for September 15. He faces a maximum penalty of five years in federal prison and a possible fine of up to $250,000.
The case is part of a wider investigation involving multiple individuals connected to the fraud operation. Another Nigerian citizen, Ayobami Omoniyi, had earlier been sentenced to 32 months in federal prison for participating in the same scheme.
The investigation was carried out by the Federal Bureau of Investigation FBI Houston office alongside IRS Criminal Investigation officials. Assistant U.S. Attorney Belinda Beek is handling the prosecution.
Authorities in the United States continue to intensify efforts against cybercrime and financial fraud schemes targeting businesses and individuals through fake emails and online deception.
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