A federal jury found Babajide Adesayo guilty of laundering more than $2.7 million that originated from online romance and other scams targeting elderly victims, and the case exposes how transnational networks moved stolen funds overseas to hide them from those harmed.
A jury in August 2026 convicted Babajide Adesayo, 41, of Douglasville, Georgia, on two counts of conspiracy to commit money laundering and sixteen counts of transactional money laundering. The government’s case says Adesayo received and shifted funds that came from scams directed at seniors and other vulnerable people. Prosecutors say he moved the money quickly to accounts abroad to frustrate recovery efforts. The total amount tied to his activity across a 17‑month span exceeds $2.7 million.
Court records describe schemes that ran from April 2020 through September 2021, during which fraudsters courted elderly victims online and built trust by posing as friends, business partners, or romantic interests. Once relationships were established, the fraudsters asked victims for financial help, inventing business needs, legal troubles, or health emergencies. Victims were steered to send large sums—often life savings or retirement funds—into accounts controlled by co-conspirators. From there, money was funneled to Adesayo and then rapidly rerouted overseas.
“Adesayo was a key member of a complex, transnational network that preyed upon elderly victims and siphoned their retirement savings overseas, mainly to China, Hong Kong, and Nigeria, to make recovery impossible,” said U.S. Attorney Theodore S. Hertzberg. The statement underscores how investigators tied Adesayo to an international flow of funds designed to mask origin and ownership. Authorities allege he continued laundering even after indictment and release on bond, prompting a judge to revoke his bond when the conduct surfaced.
Prosecutors say much of the victim money was initially deposited into business accounts belonging to co-defendant Efemena Igbe, a Nigerian national, who then transferred substantial sums to Adesayo. Investigators allege Igbe tried to disguise the transfers by labeling them as car purchases connected to Adesayo’s automotive business. Once in Adesayo’s control, funds were withdrawn or moved again quickly, often to accounts in China, Hong Kong, Nigeria, and other countries where tracing and recovery would be difficult.
“Adesayo helped steal millions from vulnerable victims, including elderly people who lost their hard-earned savings. He then moved that money overseas to hide it from those he had defrauded. Even after his indictment, he continued laundering stolen funds,” said Marlo Graham, Special Agent in Charge of FBI Atlanta. That quote reflects the FBI’s position that the defendant was a persistent facilitator, not a peripheral actor. After new laundering activity emerged while Adesayo was awaiting trial, a federal magistrate revoked his bond and he has been in custody since March 2, 2026.
Homeland Security Investigations and other agencies echoed the same theme, highlighting the role of financial middlemen in enabling large-scale elder fraud. “Adesayo’s conviction demonstrates that those who help transnational fraud networks move stolen money will be held accountable,” said Steven N. Schrank, Special Agent in Charge of Homeland Security Investigations in Georgia and Alabama. The case drew investigative support from the U.S. Secret Service, local police departments, and the New York City Police Department, reflecting a multiagency push to disrupt cross-border fraud logistics.
Following his June 2024 arrest, Adesayo was released on bond and then, according to prosecutors, persisted in laundering funds while under indictment. Once investigators documented the continued transfers, federal authorities moved to detain him pending trial and later to keep him in custody after revoking bond. Sentencing is scheduled for November 20, 2026, at 1:30 PM before United States District Judge Mark H. Cohen, and the defendant faces statutory maximums that include up to 20 years on each conspiracy count and up to 10 years on each transactional money laundering count.
The prosecution is being handled by Assistant United States Attorneys Bethany L. Rupert, Sara Lim, and Kelly Connors, and the case is part of broader efforts by the Department of Justice’s Transnational Elder Fraud Strike Force. That strike force concentrates on schemes such as romance fraud, phone scams, mass-mailing fraud, and tech-support fraud that disproportionately harm older Americans. Investigators say the focus now is on tracking and disrupting financial facilitators who attempt to move illicit proceeds out of reach of law enforcement and victims seeking restitution.
