US authorities have sentenced Oluwadamilare Kolaogunbule of Georgia to 71 months in jail and three years of supervised release for conspiracy to commit money laundering. Kolaogunbule must also pay $2,307,020 in restitution to his victims.
During 2014-18, Kolaogunbule opened and controlled nearly 20 bank accounts at various financial institutions. He used these accounts to receive over $2.5 million in romance scam proceeds from more than 60 victims. Many of these accounts were in the names of purported export companies that acted as fronts for Kolaogunbule’s ML business.
Romance scammers operate through social media and online dating websites by creating fake profiles to manipulate their victims. After gaining the victims’ trust, the scammers seek money from them in the name of a medical or business emergency.
Source: US Department of Justice