Defendant who allegedly conspired as a hacker in multiple scams to defraud victims of millions of dollars has been charged.
Patrick J. Freaney, Special Agent in Charge of the New York Field Office of the United States Secret Service (USSS), announced the extradition of AKEEM BADA a/k/a “AK” on charges of conspiracy to commit bank and wire fraud, money laundering and aggravated identity theft for his participation in a business email compromise (BEC) scheme to defraud dozens of businesses out of millions of dollars. BADA was extradited from Milan, Italy by the U.S. Marshals Service as a result of an Interpol Red Notice. He was presented before the U.S. District Judge Katherine Polk Failla and transferred to the Southern District of New York (SDNY).
Special Agent in Charge Patrick J. Freaney said: “This scheme victimized many individuals and businesses – netting more than $18 million in its wake. The defendant is alleged to have played a central role in that effort. While he managed to avoid detection for a period of time while overseas, the fact that we have apprehended him five years after the initial takedown is a testament to law enforcement’s ceaseless commitment to accountability. I want to commend our investigators, the New York City Police Department and our partners at the Southern District of New York for their dedication to this impactful case.”
AKEEM BADA allegedly participated in an $18 million fraud scheme consisting of three key phases. First, members of the conspiracy opened more than 60 business bank accounts using the real personal identifying information, including names and social security numbers, of identity theft victims. Second, members of the conspiracy deposited money into these bank accounts that they obtained by defrauding victims. Third, members of the conspiracy accessed the fraud proceeds by transferring the proceeds into other bank accounts or by withdrawing cash.
Members of the conspiracy typically defrauded their victims in one of two ways. In some instances, members of the conspiracy deposited stolen or forged checks. For example, members of the conspiracy obtained three checks that had been mailed by a national sports league from New York, New York, and deposited those stolen checks into bank accounts that were opened in the names of the intended recipients. In other instances, members of the conspiracy deceived victims into making electronic transfers. For example, a member of the conspiracy posing as a victim’s financial adviser caused the victim to wire money from a bank branch in New York, New York, to a bank account controlled by members of the conspiracy.
To date, law enforcement has identified more than 100 fraudulent transactions in furtherance of the scheme, totaling more than $18 million.
This case is being handled by SDNY’s General Crimes Unit.
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For more information on this case, visit: https://www.justice.gov/usao-sdny/pr/15-defendants-charged-manhattan-federal-court-18-million-fraud-scheme