The FBI has initiated an international manhunt for suspected Nigerian fraudsters who allegedly defrauded Orion S.A., a major carbon black producer, of $60 million, according to filings from the U.S. Securities and Exchange Commission (SEC) on August 10.
Law enforcement sources disclosed to newsmen that the suspects, whose names have not been publicly revealed to avoid tipping them off, are of Nigerian descent. The fraudulent scheme targeted a company employee at Orion, a Luxembourg-based energy company that supplies carbon black, a critical material used in the manufacture of tires, inks, batteries, and plastics.
SEC filings revealed that the fraudsters manipulated the Orion employee, orchestrating wire transfers from the company to accounts under their control—an example of a business email compromise scheme that has become increasingly common. “Orion S.A. determined that a company employee, who is not a named executive officer, was the target of a criminal scheme that resulted in multiple fraudulently induced outbound wire transfers to accounts controlled by unknown third parties,” stated the SEC document. Orion now anticipates a pre-tax charge of approximately $60 million in unrecovered funds due to this incident.
This case echoes prior schemes involving high-profile Nigerian fraudsters. Ramon Abbas, known as Hushpuppi on social media, and his associate Olalekan Ponle (alias Woodberry), were both convicted of similar crimes involving elaborate schemes to reroute corporate funds. They are currently serving sentences at the Fort Dix correctional facility in the U.S. for various wire frauds.
In another case reported by The media platforms in October, the FBI reportedly reached out to the Economic and Financial Crimes Commission (EFCC) in Nigeria for help tracking two suspects, Babatunde Shodiya and Yinka Jamiu, who allegedly scammed the U.S. healthcare system out of $13 million by redirecting funds intended for Minnesota-based healthcare providers.
The FBI’s ongoing investigations reflect the growing impact of global cybercrime, and the agency’s collaborations with foreign partners signal intensified efforts to dismantle such networks.
