Nigerian Man Jailed for 87 Months in US Over $1.7m Money-Laundering Scheme
A United States court has sentenced Nigerian citizen and permanent resident Adedayo Fateru to 87 months in prison for his role in a money-laundering scheme involving about $1.7 million in fraud proceeds. US investigators said the scheme involved business email compromise fraud, altered cheques, false ACH transfers, fraudulent COVID-19 relief loan applications and unemployment-benefit claims. Fateru was convicted alongside Lisa Farrow, William Atwater and Victoria Stone. Court records show Stone received about $1.04 million through 10 bank accounts, while Atwater received about $704,320 through accounts opened in his name. The funds were allegedly withdrawn in multiple smaller transactions to conceal their source. After completing his prison term and three years of supervised release, Fateru will be transferred to immigration authorities for removal proceedings. Farrow received 45 months, Atwater 33 months and Stone 25 months in prison.
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