Posted by Ilse Narvaez.
Oladipupo Kupoloyi, an 18-year-old Nigerian living in Binghamton, NY, pleaded guilty to his participation in a wire fraud conspiracy. Kupoloyi was a student at SUNY Brome Community College through a student visa. The wire fraud statute involves fraud by wire, radio or television. According to the statute 1343, it applies to anyone having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent statements. A person involved and found guilty may be fined not more than $1,000,000 or imprisoned not more than 30 years, or both. In order for someone to be found guilty, the government must show there was an interstate wire used and intent to defraud.
An investigation by the U.S. Department of Homeland Security revealed that Kupoloyi had wired unlawfully obtained money to Nigeria using two different banks located in Binghamton. The fraud involved thousands of dollars that were sent overseas and Kupoloyi was unemployed and had no other source of income. One of his co-conspirators obtained money through the mail by requesting funds from a 65-year-old woman, while posing as a military representative stationed in Nigeria. Later, another co-conspirator contacted the same woman but in this case, claiming to be a U.S. Customs service agent. He advised the woman that he had valuable jewelry that could be released to her if she paid between $48,000 to 50,000. Since the woman did not have the money available they asked for her personal information such as social security number and opened bank accounts with it. Money from an unidentified business bank account was then transferred into the victim’s personal accounts (Borrelli).
Kupoloyi’s participation occurs when the woman is asked to withdraw the amounts and to purchase U.S. Postal, Western Union and Monegram in order to send them to his personal address. Kupoloyi then opened a bank account in M&T Bank and a second one in Citizens Bank. He deposited $81,000 and 28,000 respectively, and wired funds to Nigeria on two occasions. M&T Bank suspected bank fraud when for a third occasion, a fund wire to Nigeria was requested. The bank reported the suspicion to the federal investigators that later found about the scheme. On November 6, 2015, Kupoloyi pleaded guilty to conspiracy to commit bank fraud, mail fraud, and wire fraud. His sentence is expected to occur in March 25th, 2016.
Ilse is a graduate student in accounting with a certification in forensic accounting at the Feliciano School of Business, Montclair State University.
Works-cited
Borrelli Anthony, “SUNY Broome Student Pleads Guilty in Wire Fraud Case.” Pressconnects.
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