Ramon Olorunwa Abbas a.k.a. “Beam Hushpuppi” presently faces a legal most extreme sentence of 20 years in a US government jail in the wake of being removed from Dubai to the United States.
In an announcement discharged by the US Department of Justice, the associated Nigerian fraudster was blamed with plotting to wash hundreds for many dollars from business email bargain (BEC) fakes and different tricks, including plans focusing on a U.S. law office, a remote bank and an English Premier League soccer club.
Hushpuppi made his underlying U.S. court appearance early today in Chicago, and he is relied upon to be moved to Los Angeles in the coming weeks.
Government examiners who recorded a criminal objection documented on June 25, affirmed that the speculated Nigerian fraudster is “one of the pioneers of a transnational system that encourages PC interruptions, deceitful plans (counting BEC plans), and illegal tax avoidance, focusing on casualties around the globe in plans intended to take a huge number of dollars”.
It was additionally claimed that Hushpuppi funds his lavish way of life of originator garments, wearing costly watches, presenting in or with extravagance vehicles, and contract planes through wrongdoing.
The statement partly read;
“BEC schemes are one of the most difficult cybercrimes we encounter as they typically involve a coordinated group of con artists scattered around the world who have experience with computer hacking and exploiting the international financial system,” said United States Attorney Nick Hanna. “This case targets a key player in a large, transnational conspiracy who was living an opulent lifestyle in another country while allegedly providing safe havens for stolen money around the world. As this case demonstrates, my office will continue to hold such criminals accountable, no matter where they live.
“In 2019 alone, the FBI recorded $1.7 billion in losses by companies and individuals victimized through business email compromise scams, the type of scheme Mr. Abbas is charged with conducting from abroad.
“Technology has essentially erased geographic boundaries leaving trans-national criminal syndicates to believe that they are beyond the reach of law enforcement. The success in this case was the direct result of our trusted partnerships between the Department of Justice and our federal law enforcement colleagues. These partnerships helped dismantle a sophisticated organized crime group who preyed upon unsuspecting businesses. It is thanks to these partnerships that the American people can feel a bit more secure today.”
Hushpuppi and his suspected co-conspirators were accused of spearheading a BEC scheme that defrauded a client of a New York-based law firm out of approximately $922,857 in October 2019. Abbas and co-conspirators allegedly tricked one of the law firm’s paralegals into wiring money intended for the client’s real estate refinancing to a bank account that was controlled by them.
He was also accused of conspiring to launder funds stolen in a $14.7 million cyber-heist from a foreign financial institution in February 2019, in which the stolen money was sent to bank accounts around the world. Abbas allegedly provided a co-conspirator with two bank accounts in Europe which he expected to receive €5 million (about $5.6 million) in each.
The suspected Nigerian fraudster also allegedly conspired to launder hundreds of millions of dollars from other fraudulent schemes and computer intrusions, including one scheme to steal £100 million (approximately $124 million) from an English Premier League soccer club, the complaint alleges.
This case is being prosecuted by Assistant United States Attorneys Anil J. Antony and Joseph B. Woodring of the Cyber and Intellectual Property Crimes Section. If convicted of conspiracy to engage in money laundering, Abbas would face a statutory maximum sentence of 20 years in federal prison.