Two Nigerian-Born Men Sentenced To Prison For Laundering Millions Of Dollars In Criminal Proceeds

CHARLOTTE, N.C. – Two Nigerian-born men were sentenced to prison today for laundering millions of dollars in criminal proceeds that were derived from fraud schemes targeting hundreds of victims, announced Russ Ferguson, U.S. Attorney for the Western District of North Carolina.

James C. Barnacle, Jr. Special Agent in Charge of the Federal Bureau of Investigation in North Carolina, joins U.S. Attorney Ferguson in making today’s announcement.

Olumide Olorunfunmi, 40, and Emmanuel Unuigbe, 43, were each sentenced to 30 months in prison followed by three years of supervised release. In addition to the prison terms imposed, they were each ordered to pay more than $4.6 million in restitution.

According to court documents and court proceedings, from 2020 through 2023, Olorunfunmi conspired with Unuigbe and others to launder the criminal proceeds of various illegal activities, including romance scams that typically targeted elderly victims and business email compromise schemes. Court records show that the victims of the schemes were directed to transfer funds into domestic and international bank accounts controlled by Olorunfunmi, Unuigbe, and their co-conspirators. Upon receiving the fraud proceeds, Olorunfunmi, Unigibe, and their co-conspirators transferred the funds to other bank accounts, in the U.S. and overseas. Court documents show that the scheme caused more than 125 victims to transfer over $4.5 million of proceeds stemming from illegal activities.

Olorunfunmi and Unuigbe profited by keeping a portion of the criminal proceeds obtained through the schemes. They also profited by agreeing to “pay” for the domestic deposits received by others by transferring Nigerian Naira from accounts the co-conspirators controlled in Nigeria to other accounts in Nigeria, based upon a “black market” exchange rate for United States Dollars to Naira.

Olorunfunmi and Unuigbe previously pleaded guilty. A related individual, Samson Amos, was also sentenced today for his role in conspiring to operate an unlicensed money transmitting business. He was sentenced to five years of probation that included a six-month period of home confinement. He was also ordered to pay restitution. 

In making today’s announcement, U.S. Attorney Ferguson thanked the FBI for the investigation of the case.

Assistant U.S. Attorney Daniel Ryan with the U.S. Attorney’s Office in Charlotte prosecuted the case.