Georgia Man Arrested for Multi-Million Dollar Conspiracy to Launder Romance Scam A Scam is a confidence trick - a crime - is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost. Proceeds
Scams A Scam is a confidence trick - a crime - is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost. Targeted Victims in the Eastern District of North Carolina
A Smyrna, Georgia man was arrested and had his first appearance in federal court in Atlanta today on charges of laundering the proceeds of romance scams that targeted victims in the Eastern District of North Carolina and throughout the United States.
According to court documents, Oluwadamilare Kolaogunbule, a/k/a “Dare,” opened, maintained, and controlled multiple bank accounts, referred to as “drop accounts,” that were used to receive, move, and obscure criminal A criminal is any person who through a decision or act engages in a crime. This can be complicated, as many people break laws unknowingly, however, in our context, it is a person who makes a decision to engage in unlawful acts or to place themselves with others who do this. A criminal always has the ability to decide not to break the law, or if they initially engage in crime to stop doing it, but instead continues. proceeds, including funds derived from romance scams. A romance scam refers to a type of scheme in which scammers create fake profiles on Internet dating sites for the purpose of identifying victims, forming fraudulent romantic relationships with them, and then exploiting them for profit. According to the allegations in the indictment, co-defendant Samuel Ugberaese, a/k/a “Putsammy,” a Nigerian national, and his co-conspirators used romance scam techniques, including false stories and promises, as a means to defraud victims into transferring money on their behalf. It is alleged that Kolaogunbule conspired with Ugberaese to conduct financial transactions through his bank accounts, including accounts registered to purported Georgia export companies, in order to conceal and disguise the nature, location, source, ownership, and control of the criminal proceeds. The indictment seeks a forfeiture money judgment in the amount of at least $2,367,520 related to the schemes.
An arrest warrant was also issued for his alleged co-conspirator, Samuel Ugberaese, who goes by “Putsammy.”
Ugberaese is a citizen of Nigeria who entered the U.S. on a tourist visa in 2014, according to court documents. He lived in Atlanta until the visa was canceled in 2016.
Kolaogunbule is charged with conspiracy to commit money laundering Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions. Money laundering can be done through various mediums, leveraging a variety of payment vehicles, people and institutions. and faces a maximum penalty of 240 months in prison if convicted.
“Romance scams are among the most prolific and despicable crimes of the digital age. Con artists outside of our borders stalk Internet dating websites for the sole purpose of taking advantage of individuals looking for companionship,” stated United States Attorney Robert J. Higdon, Jr. “They make false promises of love, but the victims—many of whom are older Americans—find only emotional and financial devastation. The losses associated with these crimes is staggering; according to the FBI’s Internet Crime Complaint Center, romance scams produce greater reported financial losses when compared to other online crimes. In 2019 alone, romance scams generated reported losses in excess of $475 million. In order to move these criminal proceeds in and out of our financial system, the scammers often rely on domestic money launderers to help them avoid detection and maximize their profits. Disrupting these criminal networks and vindicating the rights of victims to see justice, with targeted investigations and prosecutions, will be continue to be a top priority for my office.”
“It takes a heartless person to prey on lonely, elderly people. Some of these victims were essentially robbed of their life savings so these conspirators could profit. The FBI and our law enforcement partners are focused on holding offenders accountable who rip off our senior citizens,” said Robert R. Wells, Special Agent in Charge of FBI Charlotte.
One of the women they allegedly scammed is from Charleston County, South Carolina. Two others live in Wake County, North Carolina, according to an indictment unsealed Wednesday.
The men used the names “Paul Edward,” “Michael Alex” and “Timothy Greene” to lure unwitting women on Chemistry.com and Match.com, prosecutors said in court documents. They often sent the same photograph while pretending to be different men — usually an engineer who recently accepted a job overseas, according to the indictment.
Once they professed a romantic interest, they asked for money.
A woman in Wake County reportedly wired $10,000 to an account Kolaogunbule controlled through his export company, which prosecutors said was used to hide money from the scam.
The alleged scheme continued from 2014 to 2018 and involved at least nine bank accounts controlled by Kolaogunbule and his export and logistics companies. Prosecutors have asked him to forfeit at least $2.3 million related to the romance scam, court documents show.
Kolaogunbule faces up to 20 years in prison if convicted, prosecutors said.
Robert J. Higdon, Jr., U.S. Attorney for the Eastern District of North Carolina made the announcement. The Federal Bureau of Investigation, Charlotte Field Office, investigated this case. Assistant U.S. Attorney Adam F. Hulbig is prosecuting the case.
Related court documents and information are located on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 5:21-CR-27-BO.