By Samuel Gaytan
A Nigerian man, Kolade Akinwale Ojelade, has been sentenced to 26 years and four months in federal prison for his involvement in a phishing and spoofing attack that defrauded individuals and real estate businesses out of millions of dollars. The sentence was handed down on Friday by U.S. District Judge Reed O’Connor in Fort Worth, Texas.
Ojelade, 34, was arrested in Leicester, England, after being indicted in February 2023. He was extradited to the U.S. in April 2024, where he pleaded guilty to wire fraud and aggravated identity theft charges. The court sentenced him to 24 years and four months on the wire fraud charge and an additional two years for identity theft. The sentences will run consecutively.
In addition to his prison sentence, Ojelade was ordered to pay $3,386,908 in restitution to his victims. The FBI reported that Ojelade’s actions caused an intended loss of more than $100 million but resulted in an actual loss of approximately $12 million.
“Even the most conscientious among us could get taken in by a man-in-the-middle scam as devious as this one,” said Leigha Simonton, U.S. Attorney for the Northern District of Texas. “Luckily, there are steps we can take to protect ourselves, including confirming wiring instructions in person or by phone. For the next quarter-century, Mr. Ojelade will be behind bars, no longer able to scam innocent homebuyers. We are proud to hold him accountable for his crimes.”
Ojelade used a phishing scheme to infiltrate the emails of real estate businesses, gaining unauthorized access to their accounts. He would monitor email traffic to identify when large transactions were about to take place. Ojelade then intercepted the wire payment instructions, altered the information, and re-sent the emails using spoofed addresses that appeared to come from the legitimate senders.
The unsuspecting victims—prospective homeowners and real estate companies—would wire funds based on the fraudulent instructions, sending the money to accounts controlled by Ojelade and his coconspirators. Once the funds were transferred, Ojelade and his team would withdraw or transfer the money to other bank accounts.
“Mr. Ojelade callously engaged in a scheme that stole millions of dollars from prospective homeowners and real estate companies,” said P.J. O’Brien, acting special agent in charge of the FBI Dallas Division. “Today’s sentence reflects the seriousness of his crimes. Financial crimes can be devastating for individuals and companies because most times those monetary funds are never recovered.”
Ojelade’s arrest and extradition were facilitated through cooperation between U.S. authorities, the FBI Dallas Field Office, FBI International Operations in the U.K., and United Kingdom authorities. The U.S. Marshals Service and the Justice Department’s Office of International Affairs played key roles in ensuring his extradition.
After serving his prison sentence, Ojelade will face deportation to Nigeria.
Tips to Avoid Phishing Scams
The Consumer Financial Protection Bureau advises prospective homeowners to always confirm wiring instructions in person or by phone to avoid falling victim to scams like the one orchestrated by Ojelade. If you believe you’ve been targeted by a scam, the bureau urges you to immediately contact your bank to request a wire recall.