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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

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    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

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    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

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    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

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    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

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    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    It’s important to set boundaries in entertainment industry – Reminisce

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Nigerian Businessman Pleads Guilty to $11 Million Fraud Scheme

by Eucharia Egwuma
June 19, 2020
in Investigation, National, World News
Reading Time: 2 mins read
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Nigerian Businessman Pleads Guilty to $11 Million Fraud Scheme
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A Nigerian entrepreneur who operated a group of companies known as the Invictus Group pleaded guilty today to a computer based intrusion fraud scheme that caused $11 million in losses to his victims.

According to court documents, Obinwanne Okeke, 32, and other conspirators engaged in a conspiracy from approximately 2015 to 2019 to conduct various computer based frauds. The conspirators obtained and compiled the credentials of hundreds of victims, including victims in the Eastern District of Virginia and elsewhere. As part of the scheme, Okeke and others engaged in an email compromise scheme targeting Unatrac Holding Limited, the export sales office for Caterpillar heavy industrial and farm equipment. In April 2018, a Unatrac executive fell prey to a phishing email that allowed conspirators to capture login credentials. The conspirators sent fraudulent wire transfer requests and attached fake invoices. Okeke participated in the effort to victimize Unatrac through fraudulent wire transfers totaling nearly $11 million, which funds were transferred overseas.

Okeke pleaded guilty to a conspiracy to commit wire fraud. Okeke faces a maximum penalty of 20 years in prison when sentenced on October 22. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.

G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia, and Martin Culbreth, Special Agent in Charge of the FBI’s Norfolk Field Office, made the announcement after U.S. Magistrate Judge Robert J. Krask accepted the plea. Assistant U.S. Attorney Brian Samuels and Special Assistant U.S. Attorney Matthew Mattis are prosecuting the case.

UNITED STATES DEPARTMENT OF JUSTICE

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