Nigerian Olamide Shanu Pleads Guilty in $2.5M Scam

Olamide Shanu, a 35-year-old Nigerian, pleaded guilty on September 18 in the District of Idaho to conspiracy to commit money laundering related to a sextortion and romance fraud scheme that defrauded approximately 150 Americans out of over $2.5 million. The US Department of Justice reported that Shanu and his co-conspirators targeted male victims for sextortion, persuading them to send sexual images and then threatening to share those images unless they paid money.

Additionally, they exploited older individuals through romance scams, establishing deceptive emotional relationships online and requesting money under false pretenses. The illicit proceeds were laundered using peer-to-peer payment applications and cryptocurrency before being sent to co-conspirators in Nigeria.

Assistant Attorney General A. Tysen Duva emphasized the case's significance in exposing international criminal networks, while US Attorney Bart M. Davis noted the commitment to prosecuting cybercriminals. Shanu is set to be sentenced on December 15, facing a maximum penalty of 20 years in prison.