Georgia Man Convicted of Money Laundering in Online Fraud Scheme
A federal jury has found a Georgia man guilty of laundering over $2.7 million that was stolen from victims through an online fraud scheme.
Babajide Adesayo, 41, from Douglasville, was convicted on August 6 after an eight-day trial. The jury found him guilty on two counts of conspiracy to launder money and 16 counts related to laundering transaction funds.
According to U.S. officials, Adesayo became a naturalized U.S. citizen in 2015.
Prosecutors indicated that the fraudulent operation was active from April 2020 to September 2021, during which scammers pretended to be friends, colleagues, or romantic interests to gain the victims’ trust.
U.S. Attorney Theodore S. Hertzberg stated, “Adesayo was a key member of a complex transnational network that targeted elderly individuals and drained their retirement savings, sending the money overseas—mainly to China, Hong Kong, and Nigeria—making recovery virtually impossible. As a significant money launderer, Adesayo facilitated the theft of nearly $3 million from victims, persistently engaging in these activities even after being indicted, arrested, and released on bail. Now awaiting a serious sentence, this unrepentant fraudster will face the full consequences of his actions.”
Prosecutors added that the scammers built relationships with their targets prior to soliciting funds under false pretenses, claiming they needed money for business equipment, medical expenses, or that they were in jail.
Some victims were convinced to part with hundreds of thousands of dollars from their retirement and personal savings.
Much of the funds initially went to business accounts belonging to Adesayo’s co-defendant, Efemena Igbe, a Nigerian national. Igbe then transferred the majority of the funds to Adesayo, disguising the transactions as payments for a vehicle from Adesayo’s automobile business.
Adesayo subsequently funneled most of the money to accounts abroad, including those in China, Hong Kong, and Nigeria. Authorities tracked more than $2.7 million in funds that belonged to victims through Adesayo over a span of 17 months.
Even after his arrest in June 2024, the money laundering continued. Once released on bail, Adesayo kept receiving money tied to the fraud via both his and others’ business accounts, promptly moving or withdrawing funds as they arrived.
After officials uncovered further activity, a federal judge revoked his bail, and Adesayo has been in federal custody since March 2.
FBI special agent Marlo Graham remarked, “Adesayo helped steal millions from vulnerable victims, including seniors who lost their hard-earned savings. He then moved the money overseas and hid it from those he defrauded. Even after being indicted, he continued to launder the stolen funds. Today’s convictions send a clear message that the FBI will tirelessly pursue those who take advantage of vulnerable individuals and profit from fraud.”
Stephen N. Schrank, special agent in charge of Homeland Security Investigations, added, “Mr. Adesayo’s conviction demonstrates that those who assist transnational fraud networks in moving stolen funds will face accountability. This case involved vulnerable victims, including senior citizens, misled out of their savings through an online fraud scheme. HSI, in collaboration with federal, state, and local partners, will persist in targeting financial intermediaries that facilitate these crimes and transfer illegal proceeds beyond the reach of law enforcement.”
Adesayo is set to be sentenced on November 20 before U.S. District Judge Mark H. Cohen.
He could face up to 20 years in prison for each conspiracy charge and up to 10 years for each money laundering count. Furthermore, any crimes committed while on bail could lead to an additional 10 years in prison.
