FBI Arrests Nigerian Tech Entrepreneur Inegbedion for $1.5M Fraud

The Federal Bureau of Investigation (FBI) has brought forward serious allegations against Kingsley Inegbedion and Efemena Igbe, filing a comprehensive 16-count criminal indictment related to internet fraud and money laundering amounting to $1.5 million.

According to the FBI, the indictment, filed on May 14 in the U.S. District Court for the Northern District of Georgia, Atlanta Division, accuses Inegbedion and Igbe of orchestrating romance scams and business email compromises over a period spanning from April 2020 to May 2023. The duo allegedly posed as legitimate businesses to deceive unsuspecting American citizens.

Inegbedion, identified as a network engineer who previously conducted training programs for aspiring tech professionals in Atlanta, had drawn attention from law enforcement prior to these recent developments, according to documents.

The indictment details how the accused used fictitious corporate entities without physical offices or legitimate sources of income, including entities associated with well-known banks like HSBC, Citi Bank, Synovus Bank, Navy Federal Credit Union, Truist Bank, Associated Credit Union, and Georgia’s Own Credit Union. Victims were reportedly instructed to wire funds to these seemingly authentic accounts, which were then swiftly dispersed into various domestic and international accounts to obscure the illicit origins of the money.

Specific instances of fraudulent transactions were highlighted, such as withdrawals totaling $110,120 from accounts linked to the scheme. Notably, Efemena Igbe has fled to Nigeria after being questioned by authorities, leaving Inegbedion to face the charges alone.

In response to these allegations, the FBI is pursuing both restitution of the misappropriated funds and forfeiture of assets acquired through the fraudulent activities.

“Upon conviction,” the FBI stated, “the defendants, Efemena Igbe and Kingsley Inegbedion, shall forfeit to the United States of America any property involved in the offenses, including a money judgment representing the amount of property acquired illegally.”