Nigerian resident Edikan Adiakpan has pleaded guilty in the US to operating an illegal money transmission business tied to fraud proceeds
A 34-year-old Nigerian resident of Houston, Edikan Adiakpan, has pleaded guilty to charges related to operating an illegal money transmission business in the United States.
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The disclosure was made by Acting U.S. Attorney John G.E. Marck, who said Adiakpan carried out the operation between 2020 and 2022 through his company, Akama Lifestyle.
According to prosecutors, Adiakpan admitted in his plea agreement that he transferred funds on behalf of clients and retained a percentage as payment for his services.
Authorities said the funds were linked to a business email compromise scheme that targeted more than 10 victims.
Investigators revealed that fraudsters used spoofed emails disguised as messages from legitimate suppliers and creditors to deceive victims into sending payments to fraudulent accounts instead of actual vendors.
One of the victims reportedly lost $927,080, which was later transferred to Adiakpan.
Prosecutors also alleged that Adiakpan redeemed a cashier’s cheque worth $60,000 connected to the stolen funds.
The defendant remains in custody ahead of his sentencing scheduled for September 15.
If convicted, he faces a maximum sentence of five years in federal prison as well as a possible fine of up to $250,000.
The case also involved another Nigerian national, Ayobami Omoniyi, who was sentenced in March to 32 months in federal prison over his role in the scheme.
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The investigation was conducted by the FBI Houston office alongside the IRS Criminal Investigation division, while Assistant U.S. Attorney Belinda Beek is leading the prosecution.
