CHARLOTTE, N.C. (ChatnewsTV) — A Nigerian-UK dual citizen, Oludayo Kolawole John Adeagbo, has been sentenced to seven years in prison for orchestrating a complex business email compromise (BEC) scheme that defrauded institutions in North Carolina and Texas out of millions.
According to a statement released yesterday by U.S. Attorney’s Office, Western District of North Carolina, the sentencing was announced by U.S. Attorneys Dena J. King and Alamdar S. Hamdani.
Adeagbo, 45, who also went by aliases John Edwards and John Dayo, was extradited from the UK in 2022 to face charges in the U.S. His crimes involved a BEC scheme that defrauded a North Carolina university of over $1.9 million and targeted multiple entities in Texas, with an attempted theft of more than $3 million.
“BEC schemes, like the one perpetrated by Adeagbo, are devastating crimes that exploit the trust placed in businesses and institutions. These schemes steal millions and erode trust in daily operations,” said U.S. Attorney King. “This case highlights our commitment to holding cybercriminals accountable, no matter where they operate.”
U.S. Attorney Hamdani, whose jurisdiction covers Texas, echoed these concerns: “BEC scams are an epidemic. Adeagbo ran a sophisticated 21st-century cyber operation, hiding behind fake emails to steal from innocent victims. This sentencing is a clear message that such criminal conduct will not go unpunished.”
According to the FBI, BEC is one of the fastest-growing and most costly types of fraud. “Instead of enjoying the fruits of his illegal labors, Adeagbo will now spend time in federal prison,” said FBI Executive Assistant Director Michael Nordwall. He stressed that international cooperation was key in bringing Adeagbo to justice.
The scam targeting the North Carolina university occurred between August 2016 and January 2017. Adeagbo and his co-conspirators, including fellow Nigerian national Donald Ikenna Echeazu, created fake email accounts and domain names mimicking legitimate construction companies involved in a university project. They tricked the university into wiring $1.9 million to a fraudulent account. These funds were laundered through several financial transactions in an attempt to hide the crime.
Similarly, in Texas, Adeagbo conspired to defraud local governments, construction firms, and a Houston-area college from November 2016 to July 2018. Using the same tactics, his group attempted to steal more than $3 million.
“The financial damage caused by Adeagbo’s scheme is substantial,” said FBI Houston Special Agent in Charge Douglas Williams. “In a world increasingly reliant on digital transactions, this sentencing underscores that cybercrime has very real consequences.”
ChatnewsTV recalls that Echeazu, extradited and convicted for his role in the conspiracy, was sentenced in May 2023 to 18 months in prison and ordered to pay over $655,000 in restitution.
Adeagbo, who will also face a year of supervised release after serving his sentence, was ordered to pay $942,655 in restitution. He remains in federal custody and will be transferred to a Federal Bureau of Prisons facility.
This case was investigated by the FBI’s Cyber Task Force and field offices in Charlotte and Houston, with international assistance from the UK’s National Crime Agency and the Metropolitan Police. The U.S. Department of Justice’s Office of International Affairs played a key role in securing Adeagbo’s extradition.
By Gabriel Ani
