A United Kingdom-based Nigerian, Olamide Shanu, is facing the possibility of up to 20 years imprisonment in the United States following his extradition over alleged involvement in a $2 million fraud scheme.
According to U.S. prosecutors, Shanu was indicted for participating in a complex wire fraud and money laundering operation that targeted individuals and businesses across several states. Investigators allege that he and his accomplices orchestrated the scheme through online scams, fake investment platforms, and fraudulent business transactions.
Shanu was reportedly arrested in the UK earlier this year after a U.S. District Court issued a warrant for his extradition. Following months of legal proceedings, British authorities approved his transfer to face trial in America.
The indictment states that Shanu personally benefited from the scheme, funneling proceeds through multiple bank accounts and shell companies to conceal the origin of the funds. If convicted, he faces a maximum sentence of 20 years in federal prison on the wire fraud charges, along with additional penalties for related offenses.
The U.S. Department of Justice emphasized its commitment to cracking down on international fraud syndicates, stressing that extradition partnerships with the UK and other countries remain key to holding suspects accountable.
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