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Home News

Nigerian BEC Fraudster Admits Guilt

March 7, 2024
Reading Time: 2 mins read
in News
Nigerian BEC Fraudster Admits Guilt

Henry Onyedikachi Echefu, a 32-year-old Nigerian resident at the time, has pleaded guilty in a US courtroom for his involvement in a business email compromise (BEC) fraud scheme that resulted in approximately $200,000 in losses. Echefu, along with co-conspirators, executed the BEC scheme between February and July 2017. The operation involved gaining unauthorized access to personal and business email accounts, sending fraudulent messages with misleading wire transfer instructions, and attempting to launder the illicitly obtained funds through various channels, such as bank transfers and checks.

Echefu, who was extradited from Canada on November 30, 2023, admitted to having direct control of at least $22,000 of the funds obtained through the scheme. According to court documents, the perpetrators aimed to secure over $300,000 in illicit proceeds but incurred just under $200,000 in losses. As part of the plea agreement, Echefu is obligated to pay a money judgment equal to the amount under his control and provide restitution for the entire sum of caused losses. The defendant is now facing up to 20 years in federal prison, with his sentencing scheduled for May 23, 2024.

Reference:
  • Nigerian BEC Scammer Pleads Guilty in US Court
Tags: BECCyber NewsCyber News 2024Cyber threatsCybersecurityHenry Onyedikachi EchefuMarch 2024Nigerian
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