ATLANTA - The FBI said it charged and arrested an Atlanta man in connection to a money-laundering scheme that spanned roughly three years.
Federal investigators charged 37-year-old Atlanta man Abraham Adeniyi with money laundering and bank fraud offenses in connection to a scheme investigators said began in 2019 and continued through 2020. Officials said Adeniyi was arrested this Thursday morning in Georgia, and presented before a federal magistrate judge in the Northern District of Georgia.
The indictment came out of the Southern District of New York.
Federal investigators accused Adeniyi of exploiting multiply fraud victims for "millions of dollars" by using a web of bank accounts.
According to a federal indictment, Adeniyi opened multiple bank accounts, which received proceeds of various wire fraud schemes and transferred funds between the bank accounts. Adeniyi allegedly directed others involved in the scheme "in order to conceal and disguise the source, location, ownership, and control of the funds," officials said.
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Adeniyi allegedly used fraudulent identification information to open accounts at FDIC-insured banks and to obtain the funds in those accounts.
Adeniyi could serve a maximum sentence of 20 years in prison for his money laundering charge and 30 years for his conspiracy to commit bank fraud charge.
"Criminals will always believe there is a pot of gold at the end of the rainbow," FBI Assistant Director-in-Charge of the New York Field Office William F. Sweeney Jr. said. "As we allege in this investigation, Mr. Adeniyi and his cohorts stole money and attempted to conceal its origin through a series of bank accounts — all the while thinking no one would be able to track it. He discovered his luck ran out when all he found at the end of his rainbow was the FBI and the federal criminal justice system."
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