August 13, 2024 at 12:46PM
Nigerian national Bamidele Omotosho has been sentenced to 12 years and seven months in prison for participating in cyber scams that caused multimillion-dollar losses for U.S. citizens. He and his co-conspirators used stolen information to carry out fraudulent schemes, ultimately leading to significant financial damage. Law enforcement has made several other high-profile arrests in the cybercrime space.
Meeting Notes:
– Bamidele Omotosho, a 42-year-old Nigerian national, has been sentenced to 12 years and seven months in prison for his involvement in a series of cyber scams that caused millions of dollars in losses for U.S. citizens.
– Omotosho and his co-conspirators laundered the stolen funds through various methods, including using prepaid debit cards, depositing funds into accounts opened using stolen personal information, and purchasing cars to be shipped back to Nigeria for sale.
– Between 2017 and 2018, Omotosho and others engaged in multiple fraudulent schemes, including purchasing stolen credentials and personally identifiable information on the xDedic dark web cybercrime marketplace. This allowed them to steal over $2 million, with an estimated intended loss of over $7.5 million.
– The schemes also involved identity theft, romance fraud scams, and a business email compromise attack that resulted in a $250,000 theft from a pharmaceutical company. Additionally, they hacked the Employees Retirement System of Texas and breached the networks of U.S. accounting firms to steal clients’ personal information for filing fraudulent tax returns.
– Omotosho was one of 19 suspects charged for their involvement with the now-defunct dark web xDedic cybercrime marketplace.
– The meeting notes also highlighted the recent law enforcement activities targeting illegal marketplaces, including the arrest of the alleged owner and operator of the Incognito dark web drug market and the seizure of various dark web platforms selling cybercrime tools, drugs, and fake government IDs.
Overall, the notes document the criminal activities and law enforcement actions related to cyber scams, emphasizing the significant impact on victims and the ongoing efforts to combat cybercrime.