Georgia Resident Convicted for Laundering Over $2.7M Stolen in Internet Scams

 

Babajide Adesayo, a 41-year-old man from Douglasville, Georgia, was convicted by a federal jury on August 6, 2026, for laundering over $2.7 million stolen from elderly victims through romance and online fraud schemes. He was found guilty of 18 federal counts, including conspiracy and transactional money laundering.

“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 arrest in June 2024, Adesayo was released on bond without the necessity of paying bail. While under indictment and awaiting trial, he continued to engage in money laundering activities. Victims transferred funds either directly to Adesayo's business accounts or to accounts belonging to others, who then forwarded the funds to him.

Adesayo promptly withdrew these funds, transferring them to his own accounts or to other accounts shortly after receipt. Upon the discovery of this new criminal activity, a federal magistrate judge revoked Adesayo's bond. Since March 2, 2026, he has been in federal custody.

On August 6, 2026, a federal jury found Babajide Adesayo, 41, from Douglasville, Georgia, guilty on all charges, which included two counts of conspiracy to commit money laundering and sixteen counts of transactional money laundering.

Sentencing is set for November 20, 2026, at 1:30 p.m., before United States District Judge Mark H. Cohen. Adesayo faces a maximum of 20 years of imprisonment for each conspiracy count, up to 10 years for each transactional money laundering count, and an additional consecutive sentence of up to 10 years for committing offenses while on release. In determining the final sentence, the Court will take into account the United States Sentencing Guidelines, which, while not mandatory, offer recommended sentencing ranges for most offenders.

The investigation into this case is being conducted by the Federal Bureau of Investigation and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, with significant assistance from the U.S. Secret Service, the Concord (New Hampshire) Police Department, the DeSoto County (Mississippi) Sheriff’s Office, and the New York City Police Department.

The prosecution is being handled by Assistant United States Attorneys Bethany L. Rupert, Sara Lim, and Kelly Connors.

The U.S. Attorney’s Office for the Northern District of Georgia is a member of the Department of Justice's Transnational Elder Fraud Strike Force.

This Strike Force is dedicated to the investigation and prosecution of individuals involved in foreign-based fraud schemes that primarily target American senior citizens. Such schemes encompass romance scams, telephone scams, mass-mailing fraud operations, and tech-support fraud schemes.