https://www.justice.gov/usao-wdpa/pr/houston-texas-resident-pleads-guilty-violating-federal-money-laundering-laws

PITTSBURGH, PA – A resident of Houston, Texas, pleaded guilty in federal court to violating federal money laundering laws, United States Attorney Eric G. Olshan announced today.

Oluseyi Jeremiah Olagoke Adebayo, 48, of Houston, Texas, pleaded guilty to one count of conspiracy to commit money laundering from June 2022 through October 2022 before United States District Judge Robert J. Colville.

In connection with the guilty plea, the court was advised that a company located in the Western District of Pennsylvania was the victim of a business email compromise that resulted in the fraudulent transfer of over $420,000 into a bank account that Adebayo opened with a false name and a fraudulent Solomon Islands passport. To obfuscate the source of the fraudulent funds, Adebayo incorporated shell companies with false names and opened bank accounts for those shell companies also with false names. He then transferred portions of the fraudulent funds obtained from the victim company into those bank accounts from which he conducted additional transfers and issued bank checks.

Judge Colville scheduled sentencing for May 7, 2024. The law provides for a maximum total sentence of not more than 20 years, a fine not to exceed $500,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant. Adebayo remains detained pending sentencing.

Assistant United States Attorney Mark V. Gurzo is prosecuting this case on behalf of the government.

The Federal Bureau of Investigation and Homeland Security Investigations conducted the investigation leading to the prosecution of Adebayo.