Money laundering: US-based Nigerian jailed seven years

A Nigerian man, Adedayo Fateru, has received an 87-month prison sentence in the United States for his involvement in laundering about $1.7 million in fraud proceeds. The sentence was handed down by the United States’ Attorney’s Office, which also announced that Fateru would be subject to three years of supervised release following his incarceration.

Court documents reveal that Fateru collaborated with Lisa Farrow, William Atwater, and Victoria Stone in a sophisticated money laundering operation. The illicit funds stemmed from diverse fraud schemes, including business email compromises, altered check schemes, fraudulent Automated Clearing House transactions, and deceptive applications for COVID-19 economic injury disaster loans and unemployment benefits.

Within the operation, Victoria Stone played a key role by opening 10 bank accounts that received approximately $1.04 million in fraud proceeds. She withdrew about $187,375 through numerous transactions, including ATM withdrawals and debit card cash advances. William Atwater also facilitated the scheme by opening several accounts that handled about $704,320 in fraud proceeds, moving or withdrawing approximately $390,352 through over 150 transactions designed to obscure the money's origin.

In addition to Fateru's sentence, his co-defendants received significant prison terms: Lisa Farrow was sentenced to 45 months, William Atwater to 33 months, and Victoria Stone to 25 months. The United States Attorney’s Office for the Middle District of North Carolina stated that Fateru will be transferred to the custody of Immigration and Customs Enforcement after completing his sentence to undergo removal proceedings under U.S. immigration law.