Money laundering: US-based Nigerian jailed seven years
August 8, 2026 1:43 am
A Nigerian man identified as Adedayo Fateru has been sentenced to 87 months imprisonment over his involvement in a money laundering operation of about $1.7m in proceeds from various fraud schemes in the United States.
According to a statement issued by the United States’ Attorney’s Office on Wednesday, Fateru was sentenced alongside three others to a combined 190 months in prison.
His jail term will be followed by three years of supervised release.
According to court documents cited by the Attorney’s Office, Fateru worked with Lisa Farrow, William Atwater and Victoria Stone in laundering proceeds from wire fraud schemes, including business email compromises, modified cheque schemes, fraudulent Automated Clearing House transactions, and false applications for COVID-19 economic injury disaster loans and unemployment benefits.
Prosecutors said Stone opened 10 bank accounts through which she received about $1.04m in fraud proceeds and withdrew approximately $187,375 through hundreds of transactions, including Automated Teller Machine withdrawals and debit card cash advances.
Atwater, who also opened several bank accounts, received about $704,320 in fraud proceeds and withdrew or transferred approximately $390,352 through more than 150 transactions designed to conceal the money.
Farrow was sentenced to 45 months in prison, Atwater to 33 months and Stone to 25 months.
The United States Attorney’s Office for the Middle District of North Carolina said Fateru would be transferred to the custody of Immigration and Customs Enforcement after completing his sentence for removal proceedings under US immigration law.
Ayoola Olasupo is a journalist at Punch Newspapers with six years of experience reporting on metro, crime, human-interest interviews, politics, and feature stories. He focuses on amplifying underrepresented voices and producing stories that promote justice, empathy, and informed public dialogue. Ayoola’s reporting reflects practical newsroom experience, editorial insight, and a dedication to accurate, impactful, and socially conscious journalism.
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