A Nigerian man, Edikan Adiakpan, has pleaded guilty in a U.S. federal court to running an illegal money-transmitting business tied to a large-scale business email compromise (BEC) fraud scheme, a crime often linked to the notorious “Yahoo Boys” of Nigeria. The 34-year-old operated Akama Lifestyle, a business he used to receive and transfer stolen funds on behalf of cybercriminals between 2020 and 2022. His actions were part of a broader fraud network that defrauded victims across the United States, siphoning millions of dollars through deceptive emails impersonating legitimate suppliers and creditors.
According to the U.S. Department of Justice, Adiakpan admitted during his plea that he collected and transferred funds, keeping a percentage as a fee for his services. He specifically redeemed a cashier’s check worth $60,000, which was part of a $927,080 payment sent by a victim to the fraud ring. The funds were obtained after the victim received spoofed emails that appeared to come from trusted business partners, tricking them into wiring money to accounts controlled by the fraudsters. Prosecutors highlighted that over 10 victims were targeted in this scheme, with losses totaling hundreds of thousands of dollars.
U.S. District Judge Andrew Hanen of the Southern District of Texas accepted Adiakpan’s guilty plea. He will remain in custody until his sentencing in September, where he faces up to five years in prison and a potential fine of $250,000. The investigation into the fraud network was led by the FBI Houston Field Office, in collaboration with the Bryan Resident Agency and the IRS Criminal Investigation Division. These agencies have been actively targeting transnational cybercrime operations that exploit financial systems for illicit gains.
This case follows the sentencing of another Nigerian, Ayobami Omoniyi, 26, who was given 32 months in prison for his role in the same fraud scheme. Omoniyi pleaded guilty on August 19, 2024, and was ordered to pay $202,273.80 in restitution to victims. He will be deported after completing his sentence. Both cases underscore the U.S. government’s continued efforts to dismantle Nigerian cybercrime networks operating across international borders.
The conviction of Adiakpan adds to growing international pressure on individuals involved in BEC scams, which have become a major threat to global financial security. These schemes often target businesses and individuals through carefully crafted phishing emails, exploiting trust and urgency to trick victims into sending money. As law enforcement agencies strengthen cooperation, more perpetrators are being held accountable, regardless of their location. This case serves as a warning to others involved in similar fraudulent activities that justice can reach them even across continents.
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