March 7, 2024 at 09:34AM
Nigerian national Henry Echefu pleaded guilty in a US court to his role in a business email compromise (BEC) fraud scheme causing about $200,000 in losses. Echefu and co-conspirators engaged in unauthorized access to email accounts, instructing victims to make wire transfers. He faces up to 20 years in prison and sentencing on May 23, 2024.
Based on the meeting notes, here are the key takeaways:
– Nigerian national, Henry Echefu, pleaded guilty in a US court to his involvement in a business email compromise (BEC) fraud scheme that caused approximately $200,000 in losses.
– Echefu and his co-conspirators engaged in the BEC scheme between February and July 2017, gaining unauthorized access to personal and business email accounts and instructing victims to make wire transfers to bank accounts controlled by the attackers.
– Echefu attempted to launder the illegally obtained funds through various methods, and the scheme aimed to obtain over $300,000 but resulted in just under $200,000 in losses.
– Echefu admitted to having control of at least $22,000 of the funds and will have to pay a money judgment equal to that amount and make full restitution for the caused losses.
– He pleaded guilty to conspiracy to commit wire fraud and money laundering and faces up to 20 years in federal prison, with sentencing scheduled for May 23, 2024.
– One of his co-conspirators, Kosi Goodness Simon-Ebo, also pleaded guilty to similar charges and was sentenced to 18 months in prison, along with money judgment and restitution requirements.
The notes also reference related cases of Nigerian individuals involved in BEC schemes with significant financial implications.