Nigerian National, Three Others Jailed in US Over $1.7m Laundering Scam

A Nigerian citizen, Adedayo Fateru, and three other individuals have been handed prison sentences in the United States for their involvement in a large-scale money laundering operation. The scheme, which involved the attempted laundering of approximately $1.7 million in fraud proceeds, was investigated by the Internal Revenue Service Criminal Investigation and the United States Postal Inspection Services. According to the United States Attorney Dan Bishop of the Middle District of North Carolina, the individuals were found to have participated in various wire fraud schemes, including business email compromises, modified check schemes, and false applications for Economic Injury Disaster Loans during the COVID-19 pandemic. The group, which included Lisa Farrow, William Atwater, and Victoria Stone, worked together to open bank accounts and move the fraud proceeds, with Farrow and Fateru providing directions and collecting portions of the money. Stone opened multiple bank accounts, receiving over $1 million in fraud proceeds, while Atwater received approximately $704,320. Fateru was sentenced to 87 months in prison, followed by three years of supervised release, and will face removal proceedings upon completion of his sentence. Farrow, Atwater, and Stone received sentences of 45 months, 33 months, and 25 months, respectively, with supervised release to follow. The case was prosecuted by Assistant U.S. Attorney Ashley Waid of the Middle District of North Carolina. The investigation was conducted by the IRS Criminal Investigation and the USPIS, highlighting the ongoing efforts to combat financial crimes in the United States.