This archive report was first published on 4 July 2020.
Nigerian Fraudster Brought to Justice for Laundering Millions ¶
On June 25, federal prosecutors in Los Angeles filed a criminal complaint against Ramon Olorunwa Abbas, a 37-year-old Nigerian national, alleging that he conspired to launder hundreds of millions of dollars from business email compromise (BEC) frauds and other scams.
Abbas, also known as 'Ray Hushpuppi' and 'Hush,' had been flaunting his extravagant lifestyle on social media, often posting photos of himself in designer clothes, expensive watches, and luxury cars. However, the FBI's investigation revealed that Abbas finances this opulent lifestyle through crime, and that he is one of the leaders of a transnational network that facilitates computer intrusions, fraudulent schemes, and money laundering.
According to the affidavit filed with the complaint, Abbas and his co-conspirators committed a BEC scheme that defrauded a client of a New York-based law firm out of approximately $922,857 in October 2019. They allegedly tricked one of the law firm's paralegals into wiring money intended for the client's real estate refinancing to a bank account controlled by Abbas and the co-conspirators.
The affidavit also alleges that Abbas conspired to launder funds stolen in a $14.7 million cyber-heist from a foreign financial institution in February 2019. Abbas allegedly provided a co-conspirator with two bank accounts in Europe that Abbas anticipated each would receive €5 million (about $5.6 million) of the fraudulently obtained funds.
Abbas and his co-conspirators further conspired to launder hundreds of millions of dollars from other fraudulent schemes and computer intrusions, including one scheme to steal £100 million (approximately $124 million) from an English Premier League soccer club.
Abbas was arrested last month by UAE law enforcement officials and was expelled from the United Arab Emirates. He arrived in Chicago on Thursday evening and made his initial U.S. court appearance the following morning. He is expected to be transferred to Los Angeles in the coming weeks.
Abbas faces a statutory maximum sentence of 20 years in federal prison if convicted of conspiracy to engage in money laundering.
The FBI led the investigation of Abbas, and the United States Secret Service was also involved and provided substantial assistance. The FBI thanks the government of the United Arab Emirates and the Dubai Police Department for their substantial assistance.
