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May 8, 2019

Guilty plea entered in CFO scam

PHOTO | New Haven Biz U.S. District Court in New Haven
By Michelle Tuccitto Sullo

A Nigerian national accused of participating in an email scheme which targeted businesses around Connecticut and the country has pleaded guilty to conspiracy to commit wire fraud.

Stanley Hugochukwu Nwoke, 28, who goes by several aliases, entered the plea in a proceeding Tuesday before U.S. District Court Judge Janet C. Hall in New Haven.

Nwoke is scheduled to be sentenced Aug. 5. The offense carries up to 20 years in prison, though federal guidelines call for less. Federal prosecutors calculate that Nwoke should get between 41 and 51 months in prison, though Nwoke believes it should be in the 15-to-21-month range. Nwoke has agreed to a restitution order of $662,054.

Nwoke is the third Nigerian national who has pleaded guilty in connection with the scheme. Two others, Adeyemi Odufuye and Olumuyiwa Yahtrip Adejumo, pleaded guilty to related charges in 2018. Odufuye has been sentenced to 45 months of imprisonment and was ordered to pay victims $921,498 in restitution. Adejumo was sentenced to 15 months of imprisonment.

According to the U.S. Attorney’s office, the conspirators targeted hundreds of chief financial officers and controllers at businesses, schools and non-profit organizations. They sent emails to executives and made it look as if they were coming from legitimate internal email addresses. Some targets believed the email was from a CEO or other executive at their business or organization. The emails requested that money be sent or wired to bank accounts actually used by the Nigerian nationals. In some cases, emails and attachments also contained malware, according to federal prosecutors.

In 2015, emails were sent to a Torrington company’s controller, prompting the company to send approximately $500,000 while under the mistaken belief the transfer request came from the CEO. A Waterbury-based company was also victimized in the scheme. The government did not identify the victims, who are referenced in court documents only by their initials.

According to the U.S. Attorney’s office, by pleading guilty, Nwoke agreed that the loss related to his role in the scheme is at least $109,100. However, federal prosecutors and investigators believe Nwoke is responsible for over $1.8 million in losses to the victims.

Nwoke’s defense attorney, Francis O’Reilly of Fairfield, declined to comment.

Federal authorities arrested Nwoke in the island nation of Mauritius in May 2018 before extraditing him to the United States. Under the terms of the plea agreement, Nwoke agrees to forfeit his right to any property seized from him in Mauritius.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com

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