Victor Ojo, a 30-year-old man from Belcamp, Maryland, has been sentenced to 72 months in federal prison for his role in a bank fraud conspiracy that led to the theft of $1.5 million and the fraudulent collection of $28,350 in unemployment benefits. Ojo’s sentence was handed down after he pleaded guilty to aggravated identity theft and conspiracy to commit bank fraud.
From April 2016 through at least August 2019, Ojo worked with others to carry out a series of fraudulent transactions using stolen Employer Identification Numbers (EINs) obtained through the IRS’s Modernized Internet Employer Identification Number system. Ojo and his co-conspirators opened fraudulent bank accounts, deposited altered checks, and arranged for stolen wire transfers. Many of these transfers were made possible by compromising business email systems, prosecutors explained. Once the funds were received, the conspirators withdrew the proceeds and transferred the money to other accounts.
After his arrest, authorities discovered multiple pieces of evidence linking Ojo to the crime, including surveillance footage, financial documents, and even items of clothing seen in bank footage. They also found fraudulent identification, including passports and a Colorado ID in other people’s names. Additionally, Ojo admitted to participating in a separate scheme where he fraudulently obtained $28,350 in unemployment insurance benefits from the state of California using another person’s identity. In August 2021, he received a Bank of America debit card issued in the victim’s name, which contained the unemployment funds. Ojo withdrew large sums of money from ATMs in Harford County using the card.
In addition to his 72-month prison sentence, Ojo was ordered to pay restitution totaling $78,350 and forfeit $20,014.03. Upon completion of his sentence, he will serve three years of supervised release.
