Atlanta Man Convicted of Laundering Over $2.7 Million Stolen from Victims of Online Fraud

ATLANTA - Following an eight-day trial, a federal jury convicted Babajide Adesayo of laundering over $2.7 million obtained from victims of romance fraud and other types of online scams.

"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," said U.S. Attorney Theodore S. Hertzberg. "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. Now behind bars awaiting a significant sentence, this incorrigible swindler will face the full consequences of his actions."

"Adesayo helped steal millions from vulnerable victims, including elderly people who lost their hard-earned savings. He then moved that money overseas to hide it from those he had defrauded. Even after his indictment, he continued laundering stolen funds," said Marlo Graham, Special Agent in Charge of FBI Atlanta. "Today's conviction sends a clear message: the FBI will relentlessly pursue those who prey on vulnerable victims and profit from fraud."

"Adesayo's conviction demonstrates that those who help transnational fraud networks move stolen money will be held accountable," said Steven N. Schrank, Special Agent in Charge of Homeland Security Investigations in Georgia and Alabama. "This case involved vulnerable victims, including seniors, who were deceived out of their life savings through online fraud schemes. HSI, alongside our federal, state, and local partners, will continue to target the financial facilitators who enable these crimes and attempt to move illicit proceeds beyond the reach of law enforcement."

According to U.S. Attorney Hertzberg, the charges, and other information presented in court: Between April 2020 and September 2021, fraudsters engaged unwitting, elderly victims online and corresponded with them as friends, business associates, or even romantic partners. After developing relationships with the victims, the online fraudsters made pleas to the victims for help, falsely claiming that they needed equipment for their businesses, were imprisoned, or were suffering from injuries or illnesses.

The fraudsters directed most victims to send hundreds of thousands of dollars, including the victims' retirement savings and other hard-earned income, to the business accounts of Adesayo's co-defendant, Nigerian national Efemena Igbe. As soon as Igbe received funds from the victims, he immediately sent most of the money to Adesayo and tried to hide the fraudulent transactions by falsely notating that the money was intended for the purchase of cars from Adesayo's automotive business. When Adesayo received the money, he immediately sent most of it to overseas accounts in China, Hong Kong, Nigeria, and other countries. Over a period of 17 months, Adesayo received and moved over $2.7 million in victim funds.

Following his June 2024 arrest, Adesayo was released on bond without being required to pay bail. While under indictment and awaiting trial, Adesayo persisted in laundering money. Victims sent funds either directly to Adesayo's business accounts or to the accounts of others who subsequently transferred the funds to Adesayo. Adesayo then withdrew those funds, sending them to himself or to other accounts, nearly as soon as he received them. After this new criminal conduct was discovered, a federal magistrate judge revoked Adesayo's bond. Adesayo has been held in federal custody since March 2, 2026.

On August 6, 2026, a federal jury convicted Babajide Adesayo, 41, of Douglasville, Georgia, of all charges against him, including two counts of conspiracy to commit money laundering and sixteen counts of transactional money laundering.

Sentencing is scheduled for November 20, 2026, at 1:30 p.m., before United States District Judge Mark H. Cohen. Adesayo faces up to 20 years of imprisonment on each of the conspiracy counts, up to 10 years of imprisonment on the transactional money laundering counts, and a consecutive sentence of up to 10 years of imprisonment for committing offenses while on release. In determining the actual sentence, the Court will consider the United States Sentencing Guidelines, which are not binding but provide appropriate sentencing ranges for most offenders.

This case is being investigated by the Federal Bureau of Investigation and U.S. Immigration and Customs Enforcement's Homeland Security Investigations. Substantial assistance was provided by the U.S. Secret Service, the Concord (New Hampshire) Police Department, DeSoto County (Mississippi) Sheriff's Office, and New York City Police Department.

Assistant United States Attorneys Bethany L. Rupert, Sara Lim, and Kelly Connors are prosecuting the case.

The U.S. Attorney's Office for the Northern District of Georgia is part of the Department of Justice Transnational Elder Fraud Strike Force. The Strike Force focuses on investigating and prosecuting defendants associated with foreign-based fraud schemes that disproportionately affect American seniors. These include romance scams, phone scams, mass-mailing fraud schemes, and tech-support fraud schemes. For further information on these scams, see https://www.justice.gov/elderjustice/senior-scam-alert.

For further information please contact the U.S. Attorney's Public Affairs Office at [email protected] or (404) 581-6185. The Internet address for the U.S. Attorney's Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.