Nigerian Man Arrested for $10 Million US Unemployment Benefits Fraud
On August 13, 2024, Yomi Olayeye, a Nigerian national, was arrested at New York City’s John F. Kennedy International Airport on charges of conspiracy, wire fraud, and identity theft. The charges stem from an alleged scheme to fraudulently obtain $10 million in COVID-19 unemployment benefits in the United States.
According to the U.S. Attorney’s Office for the District of Massachusetts, Olayeye and his co-conspirators used stolen personal information to apply for benefits under several pandemic assistance programs, including traditional unemployment insurance, Pandemic Unemployment Assistance, and Federal Pandemic Unemployment Compensation.
The fraud spanned multiple states, including Massachusetts, Hawaii, and Indiana, and resulted in over $1.5 million in illicitly obtained benefits.
The scheme involved using stolen identities to apply for benefits, opening bank and prepaid card accounts in the U.S., and recruiting U.S.-based account holders to transfer funds. The stolen funds were used to purchase Bitcoin and conceal the scheme’s connection to Nigeria by using U.S.-based IP addresses.
If convicted, Olayeye faces up to 20 years in prison, fines, restitution, and additional penalties for aggravated identity theft. The U.S. Department of Justice’s COVID-19 Fraud Enforcement Task Force continues to combat pandemic-related fraud.
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