ATLANTA - Federal authorities in Atlanta secured a trial conviction against a 41-year-old Douglasville man for his role in a transnational scam that laundered $2.7 million from elderly victims.
Atlanta money laundering conviction
What we know:
A federal jury convicted 41-year-old Babajide Adesayo of Douglasville on Thursday following an eight-day trial. Jurors found him guilty of two counts of conspiracy to commit money laundering and 16 counts of transactional money laundering.
Federal prosecutors said Adesayo belonged to an international network that tricked elderly victims into sending their retirement savings to business accounts owned by co-defendant Efemena Igbe, a Nigerian national. Igbe transferred the cash to Adesayo under false claims that the funds were for buying cars from Adesayo's automotive business. Adesayo then wired the money to foreign accounts in China, Hong Kong and Nigeria.
Federal online fraud scheme
The backstory:
Online fraudsters tricked victims between April 2020 and September 2021 by posing as friends, romantic partners or business associates. Scam artists made false claims that they needed funds for business equipment, medical care or legal trouble.
Adesayo moved over $2.7 million during a 17-month span. Following his arrest in June 2024, he received bond without bail requirements but continued to launder money sent to his accounts while awaiting trial. A federal magistrate judge revoked his bond, and Adesayo has remained in federal custody since March 2.
Georgia federal court evidence
What they're saying:
"Adesayo was a key member of a complex, transnational network that preyed upon elderly victims and siphoned their retirement savings overseas, mainly to China, Hong Kong, and Nigeria, to make recovery impossible," U.S. Attorney Theodore S. Hertzberg said. "As a prolific money launderer, Adesayo facilitated the theft of nearly $3 million from victims and continued even after he was indicted, arrested, and released on bond."
"Adesayo helped steal millions from vulnerable victims, including elderly people who lost their hard-earned savings," FBI Atlanta Special Agent in Charge Marlo Graham said. Homeland Security Investigations Special Agent in Charge Steven N. Schrank added that federal agencies will continue targeting financial facilitators who move illicit funds beyond the reach of law enforcement.
What we don't know:
Officials have not released the exact number of individual victims affected by the scam. Federal authorities have also not stated whether any of the stolen $2.7 million has been recovered for the victims.
Douglasville defendant court case
By the numbers:
- $2.7 million: Total amount of stolen victim funds received and moved by Adesayo over 17 months.
- 18: Total counts on which Adesayo was convicted, including two conspiracy counts and 16 transactional money laundering counts.
- 20: Maximum years in prison Adesayo faces for each conspiracy count.
- 10: Maximum years in prison he faces for each transactional money laundering count, plus up to 10 consecutive years for committing offenses while on release.
What's next:
U.S. District Judge Mark H. Cohen scheduled Adesayo's sentencing for Nov. 20 at 1:30 p.m. Adesayo remains in federal custody while awaiting sentencing.
The Source: The information in this story was gathered from the U.S. Attorney’s Office for the Northern District of Georgia, which issued a press release on the trial conviction and provided statements from U.S. Attorney Theodore S. Hertzberg, FBI Atlanta Special Agent in Charge Marlo Graham, and HSI Special Agent in Charge Steven N. Schrank.