https://cbs6albany.com/news/local/jury-convicts-new-jersey-man-in-nationwide-bank-fraud-and-money-laundering-conspiracy

Albany, NY (WRGB) — Oluwaseun Adekoya, also known by several aliases including "Ace G." and "Legendary," was convicted by a jury for orchestrating a nationwide bank fraud and money laundering conspiracy. The 39-year-old from Cliffside Park, New Jersey, was found guilty of bank fraud conspiracy, money laundering conspiracy, and nine counts of aggravated identity theft.

The trial, which lasted two and a half weeks, revealed that Adekoya used publicly available information to target individuals with substantial home equity lines of credit (HELOCs) at credit unions across the United States. He employed encrypted messaging platforms to obtain personal identifying information and recruited managers nationwide to impersonate HELOC customers and conduct fraudulent transactions.

Adekoya's operation was uncovered in May 2022 when Broadview Federal Credit Union identified suspicious transactions and referred the case to the FBI. The investigation led to the prosecution of Adekoya and 13 additional co-conspirators, all of whom have pled guilty.

United States Attorney John A. Sarcone III announced the conviction, stating,

With the last set of pleas in this case, I said, ‘and then there was one;’ now, there are none. I commend the work of the FBI Albany, local law enforcement agencies and credit unions across the country, and Broadview Federal Credit Union here in Albany for bringing this relentless scammer to justice.

Special Agent in Charge Craig L. Tremaroli of the FBI's Albany Field Office said,

Mr. Adekoya was the mastermind of a complex web of deception, but he couldn’t escape the reach of the FBI and our partners. We are incredibly grateful to the numerous state and local law enforcement and banking institution partners who helped bring this investigation to a successful conviction.

Adekoya's sentencing is scheduled for October 30, 2025. He faces a mandatory minimum of two years in prison, a maximum of 32 years, restitution, forfeiture of assets, and potential deportation.