A man from Atlanta, Georgia has been sentenced to 63 months in prison after being convicted of money laundering. 36-year-old Akintayo Bolorunduro was also ordered to pay $646,606.59 in restitution. Information presented to the court showed that from January 2016 to July 2017, the defendant and others conspired to launder funds generated from business email compromise scams.
The scam used fraudulent emails and faxes to convince businesses to wire real estate settlement funds to bank accounts controlled by the conspirators. On April 29, 2016, the defendant forwarded the bank account information of a Pittsburg-area co-conspirator to another conspirator. The bank account information was used to induce a fraudulent wire transfer of $411,548.06.
Bolorunduro directed the Pittsburgh-based conspirator to purchase and distribute cashier’s checks with the fraud proceeds. This included three checks with a combined total of $131,000. A separate scam caused a fraudulent wire transfer of $235,058.53. The defendant received a portion of the proceeds and deposited a bank check for $20,000 into a bank account he had opened using a false Nigerian passport on April 18, 2016.
Again 36-year-old Akintayo Bolorunduro has been sentenced to 63 months in prison. Additional details have been made available here.