A 34-year-old Nigerian national residing in Houston, Texas, has pleaded guilty to charges of operating an unlicensed money transmitting business that funneled stolen funds from a business email compromise scheme. Edikan Adiakpan admitted to using his company, Akama Lifestyle, to transfer illicit proceeds between 2020 and 2022, keeping a percentage as a fee.
Details of the Scheme
According to Acting U.S. Attorney John G.E. Marck, the funds originated from fraudsters who targeted over 10 victims using spoofed emails that appeared to come from legitimate suppliers and creditors. Victims were deceived into wiring payments to bank accounts controlled by the scammers instead of the intended recipients.
One victim alone wired $927,080 to the fraudsters, who then forwarded portions of the money to Adiakpan. He subsequently redeemed a cashier's check for $60,000, made payable to himself, from the victim's funds.
Legal Proceedings and Sentencing
Adiakpan has been in custody and will remain so pending his sentencing, scheduled for September 15 before U.S. District Judge Andrew Hanen. He faces up to five years in federal prison and a maximum fine of $250,000.
Another Nigerian national, Ayobami Omoniyi, 26, was sentenced on March 24 to 32 months in federal prison for his role in the same scheme.
The investigation was conducted by the FBI’s Houston office and its Bryan Resident Agency, along with IRS Criminal Investigation. Assistant U.S. Attorney Belinda Beek is prosecuting the case.
