Augustine Osemwegie, the owner of a used car dealership in Fall River, Massachusetts, has pleaded guilty to money laundering.
Osemwegie used his car dealership, along with vehicle auctions and international car shipping, to launder the proceeds of various fraudulent schemes, including romance scams and COVID-19 relief fund fraud. His clients gave him the illicit proceeds in cash. Osemwegie retained a commission for his laundering services and used the remaining funds to purchase used vehicles at auto auctions. He shipped the purchased vehicles to Nigeria, where they were sold as the final step in the money laundering scheme.
Osemwegie’s criminal activities were uncovered when in September 2020, he agreed to launder fraud proceeds received from an undercover law enforcement officer. Osemwegie will receive his sentence in August 2022.
Source: US Department of Justice