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Tech Entrepreneur Kingsley Inegbedion Arrested by FBI for $1.5 Million Fraud and Money Laundering Allegations

Federal Indictment: Nigerian Tech Entrepreneur Faces Charges in $1.5 Million Fraud Case

The Federal Bureau of Investigation (FBI) has initiated legal action against Kingsley Inegbedion and Efemena Igbe, alleging their involvement in a $1.5 million internet fraud and money laundering scheme. Filed on May 14 in the U.S. District Court for the Northern District of Georgia, Atlanta Division, the indictment outlines 16 criminal charges against them.

According to the FBI, Inegbedion and Igbe purportedly conducted romance scams and business email compromises, posing as legitimate businesses to deceive unsuspecting American citizens between April 2020 and May 2023. Inegbedion, described as a network engineer who conducted training programs for tech aspirants in Atlanta, had previous interactions with law enforcement.

The indictment details how the defendants operated sham corporate entities without physical premises, legitimate income, or employee wages. Victims were instructed to wire money into these seemingly genuine accounts, from where the funds were swiftly dispersed across various accounts within and outside the U.S. in an effort to conceal the fraudulent activities.

Specific instances of fraudulent transactions include withdrawals totaling $110,120 from Camtech’s Navy Federal account and a $160,000 cashier’s check from Kingtech’s Truist account, among others.

Efemena Igbe evaded authorities by returning to Nigeria after being summoned for questioning, leaving Kingsley Inegbedion to face the charges alone. The FBI is seeking restitution of the defrauded funds and the forfeiture of properties acquired through the illicit scheme.

In accordance with U.S. law, upon conviction, Inegbedion and Igbe could be required to forfeit any property linked to the crimes outlined in the indictment. Shortly after the grand jury handed down the charges, Kingsley Inegbedion was apprehended and remains in custody pending legal proceedings.

Nwadiogbu S.G Chinedu

Nwadiogbu S.G Chinedu is a graduate of Physics and Astronomy from the University of Nigeria, Nsukka. In addition to his academic background, he is a skilled digital marketer, content creator, and image maker, helping both brands and individuals enhance their visibility and tell compelling stories. His expertise spans across various digital platforms, where he crafts engaging content and leverages marketing strategies to drive growth. Chinedu is passionate about creative expression and enjoys blogging, traveling, and meeting new people. His diverse interests fuel his work, allowing him to connect with a wide audience and bring fresh perspectives to everything he does.

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