A U.S. federal court has sentenced 33-year-old Nigerian Babatunde Francis Ayeni to 10 years in prison for his involvement in a $20 million cyber fraud conspiracy. The large-scale scheme targeted over 400 victims across the United States, primarily focusing on real estate transactions.
According to the U.S. Attorney’s Office, Ayeni was part of a sophisticated business email compromise (BEC) network. Operating from Nigeria and the United Arab Emirates, the group targeted title companies, real estate agents, and attorneys with phishing emails embedded with malicious links.
When unsuspecting employees clicked on these links, they were tricked into entering their email login credentials, granting the fraudsters access to sensitive communication. The attackers intercepted and altered financial details in ongoing transactions, diverting funds to accounts they controlled.
Ayeni, based in the United Kingdom at the time of his arrest, pleaded guilty in April 2024 to conspiracy to commit wire fraud. His sentence highlights the growing global efforts to combat cybercrime and protect victims of financial fraud.
Key Details of the Case:
Targeted Victims: Over 400 individuals across the U.S.
Losses Incurred: Nearly $20 million in diverted funds.
International Operation: Conspirators operated from Nigeria, the UAE, and the UK.
Method: Phishing emails with malicious links targeting real estate businesses.
The court’s decision sends a strong message to cybercriminals worldwide about the consequences of fraudulent activities.
Peoplesmind
