How Igwilo, others allegedly defrauded US financial institutions of $100m
March 15, 2022
For two years, from about November 2014 to December 2016, Osondu Victor Igwilo allegedly headed a criminal network that perpetrated an advance-fee scheme around the world, and laundered the proceeds through U.S.-based bank accounts in excess of $100 million.
Igwilo’s escapades got to the United States Federal Bureau of Investigation, FBI, who in 2018 formally declared him wanted.
Igwilo’s scam scheme, according to FBI, “involved promising victims investment funding, supposedly being offered by a commercial bank, and supposedly sponsored by the U.S. Government, in exchange of paying various advance fees. Using fake email accounts and stolen identities of bank employees and U.S. government officials, Igwilo and his co-conspirators found victims over the Internet, and allegedly deceived them into believing the investment opportunities were authentic.
“To further boost victims’ belief in the legitimacy of the investment, Igwilo allegedly recruited U.S. citizens to impersonate bank officials during in-person meetings with the victims.
“Igwilo perpetrated approximately a 100 million dollar fraud scheme defrauding multiple U.S. financial institutions. Igwilo furthered his crime by targeting international victims that would be vulnerable to his criminal scheme.”
Igwilo was said to have continued to have his way with his team until December 21, 2016, when a criminal complaint was filed in the United States District Court, Southern District of Texas, Houston, Texas, charging him with wire fraud conspiracy, money laundering, and aggravated identity theft.”
Sensing that his game was up, he went low life in the hope of hiding from the radar of the FBI. But the FBI working with InterPol and the Nigeria’s anti-crime agency, the EFCC, intensified the manhunt from on=the-run Igwilo whom security sources mutated from one name to another as he tried to beat the security searchlight.
However, the heat got to him on Thursday, March 11, 2022 when operatives of the EFCC, Lagos Command, swooped on him.
Fifty-two year-old Igwilo, who is the alleged leader of a criminal network of “ Catchers’’ was arrested alongside Okafor Nnamdi Chris, Nwodu Uchenna Emmanuel and John Anazo Achukwu at a studio in the Sangotedo area of Lagos for an alleged fraud, money laundering and identity theft to the tune of about $100m.
There were strong indications that the suspects may be extradited to the United States where much of the crimes were allegedly committed.