Edikan Adiakpan, a 33-year-old Nigerian man, has been arrested in connection with a large-scale business email compromise (BEC) and money laundering scheme that defrauded organizations across eight countries.
Authorities say Adiakpan impersonated legitimate vendors through spoofed emails, tricking targeted companies into transferring payments to fraudulent bank accounts. Among the victims was a medical research organization focused on developing treatments for military veterans.
According to investigators, once the payments were received, the funds were rapidly moved across multiple bank accounts controlled by the fraudsters. The money was then converted into cashier’s checks, allegedly cashed by Adiakpan, who retained a portion as a commission.
Adiakpan has been charged with conspiracy to commit wire fraud, conspiracy to commit money laundering, and operating an unlicensed money transmission business. If found guilty, he faces lengthy prison terms and significant financial penalties.
Authorities confirmed that another individual, 26-year-old Ayobami Omoniyi, was previously charged in connection with the same operation and is awaiting sentencing.
Officials describe the scam as part of a sophisticated cybercrime ring targeting both public and private sector institutions. Investigations were led by international cybersecurity and financial crime agencies.
Prosecutors emphasized the use of “pretexting” — a social engineering tactic where attackers impersonate credible figures or organizations to manipulate victims into revealing sensitive data or transferring money.
The case highlights growing concerns about international fraud networks and the vulnerability of organizations to email-based financial scams.
