Nigerian Citizen Adedayo Fateru Sentenced to 87 Months Over $1.7M Money Laundering Scheme in US
- A US court sentenced Nigerian citizen Adedayo Fateru and three accomplices for laundering about $1.7 million from multiple fraud schemes
- The fraudster conspired with three others to move stolen funds from BEC scams, fake COVID-19 loan applications, and fraudulent unemployment claims
- The US Department of Justice announced the sentencing in a press release on Wednesday, August 5, 2026, sparking reactions online
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A Nigerian citizen living in the US, Adedayo Fateru, has been handed a seven-year prison sentence after a court found him and his accomplices guilty of coordinating a money laundering operation that funnelled roughly $1.7 million derived from several fraud schemes.
Source: Getty Images
In a press release, the US Department of Justice announced the sentencing on Wednesday, August 5, 2026, through the Office of the US Attorney for the Middle District of North Carolina.
The convicted individuals are Adedayo Fateru, a Nigerian citizen and US permanent resident, along with his accomplices Lisa Farrow, William Atwater, and Victoria Stone.
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How Adedayo Fateru's fraud ring operated
Court records detailed that the four individuals worked together to receive and conceal funds stolen through business email compromise (BEC) scams, fraudulent COVID-19 Economic Injury disaster loan applications, fake unemployment benefit claims, altered cheque schemes, and other wire fraud operations.
Farrow served as the recruiter, bringing both Stone and Atwater into the network.
She and Fateru, the Nigerian citizen, then guided the recruits on how to open bank accounts and move the stolen money, collecting portions of whatever cash was withdrawn in the process.
Stone opened 10 bank accounts that took in more than $1.03 million in fraudulent proceeds, subsequently withdrawing about $187,375 across hundreds of small transactions.
Atwater operated several accounts that received approximately $704,320, withdrawing around $390,352 through more than 150 transactions designed to obscure the origin of the funds.
Adedayo Fateru and accomplices' sentences handed down
Fateru received the heaviest penalty: 87 months in federal prison, followed by three years of supervised release.
Upon completing his sentence, the convicted fraudster could be transferred to Immigration and Customs Enforcement (ICE) custody to face deportation proceedings.
Farrow was sentenced to 45 months, Atwater to 33 months, and Stone to 25 months, each with a period of supervised release attached.
The Instagram post announcing the sentencing of Adedayo Fateru and his accomplices is below:
Nigerians react to Adebayo Fateru's sentencing
The news drew swift commentary online, with many users weighing in on the case and its wider resonance.
YEN.com.gh has compiled reactions from the post below:
iamflorencechioma said:
"Wait o, I just remembered Husshpuppi. Now just seeing this guy's face 😢. Hope he's well?"
olusola_sarah wrote:
"For his sentence to be this minimal, that means they recovered most of the money."
tungsten_y added:
"But when would these people learn their lesson?"
Nigerian fraudster Afeez Adewale jailed 5 years
Earlier, YEN.com.gh reported about Afeez Adewale, a Nigerian internet fraudster who has been sentenced to five years in prison in the United States for his involvement in a money laundering and cybercrime scheme connected to the tragic death of a young American man.
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US-based Ghanaian woman sentenced to over 6 years in prison over $1.6 million romance fraud
This case only underscored the serious consequences of cyber fraud but also highlighted the real-life impact of such crimes on individuals.
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Source: YEN.com.gh
