A Nigerian national has been sentenced to 10 years in federal prison for his involvement in a massive cyber fraud operation that defrauded over 400 individuals across the United States, resulting in nearly $20 million in losses. Babatunde Francis Ayeni, 33, a Nigerian citizen residing in the United Kingdom at the time of his arrest, played a key role in a widespread email compromise scheme, according to the U.S. Attorney’s Office for the Southern District of Alabama.
The scheme, run by individuals based in Nigeria and the United Arab Emirates, targeted real estate businesses across the country. The conspirators used phishing emails to gain access to employees’ email accounts. When employees clicked on the fraudulent links, they were tricked into entering their email login credentials, which were then intercepted and used by Ayeni and his co-conspirators.
Once the scammers had control of the compromised email accounts, they monitored communications for any pending real estate transactions involving large payments. By manipulating trust and posing as legitimate parties in these transactions, Ayeni and his associates caused significant financial damage to unsuspecting buyers and sellers.
In one particular case, Ayeni is said to have gained access to the email credentials of a real estate title company in Gulf Shores, Alabama. This allowed him and his co-conspirators to exploit the email accounts of clients and real estate professionals, leading to fraud in the Southern District of Alabama and beyond.
The U.S. Attorney, Sean P. Costello, emphasized the severity of cyber-enabled crimes, stating, “Cyber criminals may think they are shielded behind their keyboards, but this case proves that such actions have real consequences.” Of the 400 victims identified in the U.S., 231 were unable to recover their stolen funds, resulting in a collective loss of $19.6 million.
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