A Georgia man accused of laundering nearly $1 million through a sophisticated cryptocurrency scheme has been arrested following a lengthy investigation, the Bergen County Prosecutor’s Office announced.
Prosecutor Mark Musella said 39-year-old Olanrewaju B. Adeosun, of Dunwoody, Georgia, was taken into custody Monday in Queens, New York. Detectives located him with assistance from the Department of Homeland Security, the Port Authority Police Department of New York and New Jersey, and U.S. Customs and Border Protection.
The arrest follows a 15-month investigation that began in July 2024 after Palisades Park police reported a fraudulent wire transfer that caused a $982,148 loss to a local business. Investigators determined the money had moved through several financial accounts before being converted into cryptocurrency.
According to authorities, Adeosun used a fraudulent cryptocurrency account to shift the stolen funds into digital assets and then transferred them into accounts he controlled. Detectives say the money was eventually withdrawn and used for his personal gain.
Adeosun is charged with first-degree money laundering under New Jersey law. He is currently being held in New York pending extradition to Bergen County.
Musella emphasized that the charges are allegations and that Adeosun is presumed innocent unless proven guilty. He also thanked multiple agencies for their cooperation, including the Dunwoody Police Department and the Queens County District Attorney’s Office.
