How Nigerian scammers stole millions from people, businesses
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How Nigerian scammers stole millions from people, businesses

For years, dozens of scammers from Nigeria and other countries swindled millions of dollars from U.S. businesses and individuals, funnelling the stolen money through accounts provided by two fellow Nigerian “brokers” based in Los Angeles. In the burgeoning underworld of online fraud, Nigerian nationals Valentine Iro and Chukwudi Christogunus Igbokwe were well-known operators who went by a raft of pseudonyms, including “Iro Enterprises” and “Chris Kudon.” Between 2014 and 2018, Iro and Igbokwe, working with nearly 80 other international swindlers, facilitated a series of schemes that resulted in the theft of at least $6 million and the attempted theft of $40 million more from victims in more than 10 countries, according to a 252-count federal indictment unsealed Thursday. The scammers victimized individuals and small and large businesses. In targeting businesses, they used a tactic called “business email compromise,” also known as CEO fraud. Under that scheme, a fraudster gains access to a company’s computer system and then, posing as a company executive, tricks an employee into making an unauthorized wire transfer into a bank account the fraudster controls. The victims The indictment documents several corporate victims. In 2014, a San Diego clothing distributor wired nearly $46,000 into a bank […]

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