He Laundered $2.7M Stolen Through Online Scams. Then Kept Going After His Arrest.

Prosecutors say millions stolen from elderly victims through online scams were funneled through business accounts and transferred overseas. Even after his arrest, the man accused of laundering the money allegedly continued moving suspicious funds while awaiting trial.

Between April 2020 and September 2021, elderly victims were allegedly targeted online by fraudsters who posed as friends, business associates, and romantic partners before convincing them to send large amounts of money.

The fraudsters allegedly claimed they needed help purchasing equipment for businesses, had been imprisoned, or were suffering from injuries or illnesses.

Some victims were ultimately convinced to send hundreds of thousands of dollars, including retirement savings and other income, into business accounts controlled by Nigerian national Efemena Igbe.

Investigators said Igbe transferred most of the money to Babajide Adesayo while disguising the transactions as payments for vehicles purchased through Adesayo’s automotive business.

Adesayo then allegedly transferred most of the money to accounts in China, Hong Kong, Nigeria, and other countries.

Over approximately 17 months, Adesayo received and moved more than $2.7 million in money obtained from victims.

In June 2024, Adesayo was arrested and later released on bond without being required to pay bail.

But prosecutors said the alleged money laundering didn’t stop.

While under indictment and awaiting trial, Adesayo continued receiving money through his business accounts or through accounts belonging to other people who subsequently transferred the funds to him.

Investigators said Adesayo would withdraw or transfer the money to himself or other accounts almost immediately after receiving it.

After authorities discovered the additional activity, Adesayo’s bond was revoked. He has remained in federal custody since March 2, 2026.

On August 6, 2026, a federal jury convicted 41-year-old Babajide Adesayo of two counts of conspiracy to commit money laundering and 16 counts of transactional money laundering.

Adesayo is scheduled to be sentenced on November 20, 2026.

He faces up to 20 years in federal prison on each conspiracy count, up to 10 years on each transactional money laundering count, and an additional consecutive sentence of up to 10 years for committing offenses while on release.