Canadians victims of an international hacking network that siphoned off nearly $215M

A federal jury has found 25 people guilty of orchestrating an international hacking network that scammed over 1000 victims out of nearly 215 million US dollars in dozens of American states and 19 countries, including Canada. This article is a translation of a CTV News content.

According to a statement released on Thursday by the federal prosecutor’s office in the northern district of Ohio, evidence and court documents revealed that individuals, businesses, and American organizations were targeted and hacked by fraudulent groups with ties to Nigeria, in what is sometimes referred to as “business email compromise.”

Their main goal was to access individuals’ email accounts, allowing their accomplices to delve into their business practices and contacts by monitoring their activities.

“After gathering enough information about the victim’s business activities, the accomplices would send a fraudulent email either to the victim or to someone in contact with them, requesting payment,” authorities stated.

This information was used to craft fraudulent emails convincing victims to make payments under the guise of a legitimate business transaction. Once the payment was made, the suspects used a “network” of fake bank accounts and money transfer systems to launder and distribute the stolen funds.

Nearly 50 million dollars from the stolen money were used to purchase bank drafts, presented for payment to a Chicago-area money services business owned and operated by co-defendant Lon Goodman, known as New Dolton Currency Exchange.

Goodman allegedly “regularly” accepted these payments accompanied by false information and continued to work with these individuals, despite multiple warnings from banks about checks obtained through fraudulent means.

“When it became too risky to accept cashier’s checks on behalf of an individual, Goodman nonetheless accepted checks from these people made out to fictitious companies they controlled,” the press release stated.

Bank transfers made by victims ranged from tens of thousands to several million dollars. One company was defrauded of 2.7 million dollars through a bank account of a shell company controlled by a co-conspirator.

Investigators uncovered over 1.2 million dollars in bank drafts, cryptocurrency, and cash during the investigation.

Additionally, they also found a Patek Philippe Nautilus watch worth $45,000, an Audemars Piguet Royal Oak watch worth $30,000, a Richard Mille Felipe Massa watch worth $140,000, and a 410 m² residence in Lawrenceville, Georgia.

Among the 25 defendants, Oluwafemi Michael Awoyemi, 40, from Romeoville (Illinois), Aruan Drake, 37, from Atlanta, and Peter Reed, 35, from Oak Forest (Illinois), were convicted of conspiracy to commit electronic fraud.

Awoyemi and Drake were also found guilty of conspiracy to launder money.

Twenty-two other individuals pleaded guilty to electronic fraud and conspiracy to launder money following the convictions of Awoyemi, Drake, and Reed.