A federal jury in Ohio has convicted the final defendants in one of the largest business email compromise prosecutions in US history a sophisticated cybercrime operation that stole $215 million from over 1,000 victims across 47 states and 19 countries, with at least nine Nigerians among those convicted.
A federal court in Toledo, Ohio has delivered its verdict on one of the most sprawling cybercrime prosecutions the United States Department of Justice has ever brought to trial, convicting the final defendants in a business email compromise scheme that defrauded more than 1,000 victims of approximately $215 million a criminal enterprise that touched 47 American states and 19 countries across four continents.
On April 24, 2026, a jury convicted Oluwafemi Michael Awoyemi, 40, of Romeoville, Illinois; Aruan Drake, 37, of Atlanta, Georgia; and Peter Reed, 35, of Oak Forest, Illinois, of wire fraud conspiracy. Awoyemi and Drake were additionally convicted of money laundering conspiracy. In total, 25 defendants have now been convicted for their roles in the fraud and money laundering scheme, presided over by U.S. District Judge James R. Knepp II.
The three trial convictions complete a prosecution that began with a sweeping indictment and ended with 22 additional defendants having entered guilty pleas, a near-total dismantling of the network’s US-based operational wing.
The operation was carried out by Nigerian-linked fraud groups that hacked into email accounts belonging to individuals and businesses. Investigators said the conspirators used this access to study ongoing business transactions, identify payment schedules, and intercept financial communications.
Evidence presented in court detailed a highly coordinated fraud system that relied on gaining unauthorised access to victims’ email accounts and monitoring those communications over time. The co-conspirators would then use the intelligence gathered to insert themselves into legitimate business transactions sending fraudulent payment instructions that directed unsuspecting victims to transfer funds directly into accounts controlled by the network. Wire transfers sent by victims ranged from tens of thousands to millions of dollars per transaction, with many victims completely unaware until long after the money had disappeared.
Once the money was received, the network moved aggressively to conceal its origins. Proceeds were laundered through shell companies, fake identities, and layered financial channels a structure designed to frustrate investigators and delay detection. One defendant, who owned the New Dolton Currency Exchange, routinely accepted false know-your-customer information and continued doing business with individuals even after banks warned him that cheques were obtained with stolen funds or returned as fraudulent. When it became too risky to accept cashier’s cheques in an individual’s name, he would nonetheless accept cheques payable to shell companies that those individuals controlled.
Of the 25 defendants, four Emmanuel Okereke, also known as Omo Igbo, aged 42; Olalekan Bashiru, known as Ola Bash, aged 36; Jeremiah Agina, 29; and Ademola Balogun, 43 were Nigerian nationals. Another five, Ayobami Osas Christopher, known as Lovely Man, aged 30; Ayorinde Emmanuel Adebayo, 35; Olabode Bankole, 37; Chukwuemeka Evulukwu, 35; and Kingsley Owusu, 37 were naturalised US citizens of Nigerian descent. Co-defendants from Ghana and the United States were also among those convicted, underscoring the multinational composition of the operation.
Authorities seized or moved to forfeit significant assets during the investigation, including nearly $1.2 million in cashier’s cheques, cryptocurrency, and cash. Luxury items seized included a Patek Philippe Nautilus watch valued at $45,000, an Audemars Piguet Royal Oak watch valued at $30,000, and a Richard Mille Felipe Massa watch valued at $140,000. Investigators also moved to seize a 4,423-square-foot residential property in Lawrenceville, Georgia.
International victims were identified across the United States, Canada, Mexico, the United Kingdom, Germany, Italy, Kuwait, the United Arab Emirates, Australia, New Zealand, Malaysia, Panama, Bermuda, Romania, and other countries. The scale of geographic reach places this case among the most complex cybercrime prosecutions ever brought to completion not just in the United States but globally.
The investigations were conducted jointly by the FBI’s Cleveland Division, the US Postal Inspection Service, and the US Border Patrol Sandusky Bay Intelligence Unit a multi-agency operation that took years to assemble the evidence required to prosecute 25 individuals across a network deliberately constructed to be difficult to trace.
Wednesday’s convictions arrive as the United States and its partners intensify pressure on business email compromise networks operating out of West Africa. The FBI estimates that BEC schemes cost global businesses more than $50 billion between 2013 and 2023 making it the costliest cybercrime category in the world, ahead of ransomware and data breaches. Unlike the dramatic imagery associated with hacking, BEC fraud requires no technical sophistication from its victims only trust, the same trust that enables all legitimate commerce.
For Nigeria, each high-profile conviction carries a reputational cost that extends far beyond the individuals named in court documents. Legitimate Nigerian businesses, diaspora professionals, and the broader ecosystem of West African digital commerce continue to operate under a cloud of suspicion generated by networks like this one. The Nigerian government has in recent years made stronger commitments to cybercrime prosecution, including through the Economic and Financial Crimes Commission but the continued capacity of Nigeria-linked syndicates to recruit, operate, and launder funds at this scale suggests that the gap between policy and enforcement remains dangerously wide.
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Sentencing for the three trial convictions has yet to be scheduled. Each defendant’s sentence will be determined by the court following a review of their criminal history, their specific role in the conspiracy, and the characteristics of the offence.
