Authorities accuse Atlanta man of stealing tens of millions from years-long cash laundering scheme

The FBI stated it charged and arrested an Atlanta man in a cash laundering scheme that lasted about three years.

Federal investigators have charged Abraham Adeniyi, 37, of Atlanta, with cash laundering and financial institution fraud offenses in a scheme that investigators stated started in 2019 and can proceed till 2020 Officers stated Adeniyi was arrested Thursday morning in Georgia and introduced earlier than a federal Justice of the Peace decide in Georgia’s northern district.

The indictment got here out of the Southern District of New York.

Federal investigators have accused Adeniyi of exploiting a number of victims of fraud for “tens of millions of {dollars}” utilizing a community of financial institution accounts.

In response to a federal indictment, Adeniyi opened a number of financial institution accounts, which obtained the proceeds from varied digital fraud schemes and transferred funds between financial institution accounts. Adeniyi is claimed to have directed others concerned within the scheme “to cowl up and disguise the supply, location, possession and management of the funds,” officers stated.

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Adeniyi allegedly used fraudulent credentials to open accounts at FDIC-insured banks and to acquire funds from these accounts.

Adeniyi might serve a most sentence of 20 years in jail for his cash laundering cost and 30 years for his conspiracy to commit financial institution fraud prices.

“Criminals will all the time consider that there’s a pot of gold on the finish of the rainbow,” stated William F. Sweeney Jr., FBI deputy director answerable for the New York area workplace. “As we allege on this investigation, Mr. Adeniyi and his cohorts stole cash and tried to cowl up his origin by means of a collection of financial institution accounts – believing that nobody would be capable of observe him. He discovered his luck ran out when every little thing he discovered on the finish of his rainbow was the FBI and the federal prison justice system. “


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