Inside Oluwaseun Adekoya’s real-life ‘Money Heist’ that shook the US banking system 

A Nigerian man, Oluwaseun Adekoya, 40, has been sentenced to 20 years in prison in Albany, New York, for orchestrating a nationwide bank fraud and money laundering conspiracy, in what can be described as a real-life version of the famous Money Heist.

Adekoya, who also used several aliases including “Ace G.,” “Broda,” “Legendary,” “Santa,” “Sammy LaBanco,” “Sean Maison,” and “Kiing_maison,” masterminded the operation from his luxury apartment in New Jersey, targeting individuals with substantial home equity lines of credit (HELOCs) at local credit unions across the United States.

Evidence presented at trial showed that Adekoya used encrypted messaging platforms such as Telegram to obtain Social Security numbers, bank account information, mother’s maiden names, and other personal identifying information. He then recruited a network of managers and lower-level operatives across the country, equipping them with fake driver’s licenses to impersonate customers and conduct fraudulent withdrawals.

To evade detection, Adekoya used “burner” phones, encrypted communications, and laundered his share of the proceeds through accounts in other people’s names. Some of the stolen money was reinvested to sustain the scheme, paying for travel, rental cars, and fake IDs for his conspirators.

Oluwaseun Adekoya, a Nigerian citizen and lawful permanent resident of the US since 2004, had been engaged in criminal fraud since 2008, when he was just 22. U.S. District Judge Mae A. D’Agostino described him as a “perpetual thief” and a “flagrant serial offender” for orchestrating increasingly sophisticated fraud and identity-theft operations over nearly two decades.

“For nearly two decades, Oluwaseun Adekoya abused the privilege of lawful permanent resident status to steal the identities of innocent Americans so he could live lavishly in our country, without an ounce of remorse,” said Acting U.S. Attorney John A. Sarcone III. “Now he gets to spend two decades in prison, and he deserves every last day of his sentence. I look forward to his subsequent removal from the United States.”

Special Agent in Charge Craig L. Tremaroli of the FBI Albany Field Office added: “Mr. Adekoya spent almost two decades building a massive criminal network that stole from hard-working Americans. This sentence ensures he’ll spend the next 20 years in federal prison. The FBI is grateful to our law enforcement and banking partners who helped dismantle this network and bring justice to the victims.”

The investigation began in May 2022 when Broadview Federal Credit Union, headquartered in Albany, detected a series of impersonation transactions at its branches and alerted the FBI. Subsequent probes revealed Adekoya as the mastermind and led to the prosecution of 13 additional co-conspirators, all of whom pleaded guilty prior to trial.

When the FBI executed a search warrant on Adekoya’s apartment on December 12, 2023, he attempted to wipe his primary phone. Agents, however, recovered numerous burner phones, Rolex watches, a $51,000 Tiffany engagement ring, designer handbags and shoes, and approximately $26,000 in bank accounts used to launder funds. All items have been forfeited.

As part of his sentence, Adekoya will serve five years of supervised release, pay over $2.2 million in restitution, and a mandatory $1,100 special assessment. He is also subject to removal from the United States upon completion of his prison term.

Other co-conspirators received prison terms ranging from time served to 11 years, with fines and restitution amounts reflecting their roles in the conspiracies. They include:

David Daniyan, 61, sentenced to 54 months and $2.2 million restitution

Kani Bassie, 36, sentenced to 11 years and restitution TBD

Davon Hunter, 27, sentenced to 42 months and $469,499.18 restitution

Christian Quivers, 20, sentenced to 42 months and $385,650 restitution

Jermon Brooks, 20, sentenced to 36 months and $385,650 restitution

Akeem Balogun, 56, sentenced to 21 months and $262,200 restitution

Others received time served or shorter sentences with restitution payments.