Maryland Man Charged with Money Laundering Offenses Related to Computer Intrusions that Targeted New Jersey Company
NEWARK, N.J. – A Maryland man was indicted on money laundering charges related to money obtained through unlawful computer intrusions that targeted a New Jersey-based employee benefit and payroll management company, U.S. Attorney Philip R. Sellinger announced today.
Oladapo Sunday Ogunbiyi, 40, of Greenbelt, Maryland, is charged by indictment with one count of conspiracy to commit money laundering, two counts of money laundering, and two counts of engaging in transactions in property derived from criminal activity. Ogunbiyi appeared before U.S. Magistrate Judge Lois H. Goodman in Trenton federal court.
According to documents filed in this case and statements made in court:
Ogunbiyi conspired with others to launder funds obtained through an unlawful computer fraud scheme in which they obtained unauthorized access to a 401k account held for the benefit of a person at the New Jersey company. They then added a bank account belonging to another individual to the victim’s 401k account without the victim’s knowledge or authorization. This account was designated as the account to receive withdrawals from the victim’s 401k account. Thereafter, $246,390 was transferred to the bank account belonging to account that had been added without the victim’s knowledge or consent.
Ogunbiyi and others directed that the fraud proceeds be converted into cashier’s checks, which were provided to Ogunbiyi. He then deposited the cashier’s checks into bank accounts under his control and withdrew the funds in a series of ATM and counter withdrawals designed to conceal the source of the money, which he used for personal expenditures.
The counts of money laundering and money laundering conspiracy carry a maximum penalty of 20 years in prison and a fine of $500,000, or twice the value of the property involved in the transaction, whichever is greater. The counts of engaging in transactions in property derived from criminal activity carry a maximum penalty of 10 years in prison and a fine of $250,000, or twice the value of the property involved in the transaction, whichever is greater.
U.S. Attorney Sellinger credited special agents of the FBI, including the FBI’s Cyber Crimes Task Force, under the direction of Acting Special Agent in Charge Michael Messenger in Newark, with the investigation leading to the charges.
The government is represented by Assistant U.S. Attorney Anthony P. Torntore of the U.S. Attorney’s Office’s Cybercrime Unit.
The charges and allegations contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.