Two Nigerians Sentenced to 16 Years for €6M Fraud

Franci Ogbuefi, 42, and Steven Silvest, 32, were sentenced to a total of 16 years in prison by a judge in Ireland for their roles in a highly sophisticated global money laundering scheme. Ogbuefi received a nine-year sentence, while Silvest was sentenced to seven and a half years.

The duo was arrested following a lengthy investigation by the Garda National Economic Crime Bureau. They were found guilty of engaging in organized fraud totaling €6.17 million.

The investigation revealed that the men coordinated the movement of illicit funds across multiple bank accounts, including through romance fraud and other scams. Evidence showed that Ogbuefi had instructed the opening of accounts in Irish names to avoid suspicion and had collaborated with contacts outside Ireland.

Judge Martin Nolan described their operation as complex and noted their strong understanding of banking systems, which made their crimes difficult to detect. Both men had no prior criminal records.