Nigerian National Adedayo Fateru Sentenced to 87 Months for $1.7M US Fraud Scheme
A Nigerian national, Adedayo Fateru, has been sentenced to 87 months in prison for his involvement in a money laundering operation involving about $1.7 million in proceeds from various fraud schemes in the United States.
The United States Attorney’s Office for the Middle District of North Carolina disclosed this in a statement issued on Wednesday, noting that Fateru was sentenced alongside three other defendants to a combined 190 months in prison.
Fateru’s prison term will be followed by three years of supervised release.
According to court documents cited by the Attorney’s Office, Fateru worked with Lisa Farrow, William Atwater and Victoria Stone to launder proceeds generated through several wire fraud schemes.
The schemes included business email compromises, modified cheque schemes, fraudulent Automated Clearing House transactions, as well as false applications for COVID-19 Economic Injury Disaster Loans and unemployment benefits.
Prosecutors said Stone opened 10 bank accounts through which she received approximately $1.04 million in fraud proceeds. She subsequently withdrew about $187,375 through hundreds of transactions, including Automated Teller Machine withdrawals and debit card cash advances.
Atwater, who also opened several bank accounts, received approximately $704,320 in fraud proceeds and withdrew or transferred about $390,352 through more than 150 transactions allegedly designed to conceal the source of the funds.
Farrow was sentenced to 45 months in prison, while Atwater received a 33-month sentence and Stone was sentenced to 25 months.
The US Attorney’s Office said Fateru would be transferred to the custody of Immigration and Customs Enforcement after completing his prison sentence. He will subsequently face removal proceedings under US immigration law.
