{"id":49509,"date":"2026-08-11T18:05:23","date_gmt":"2026-08-11T18:05:23","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=49509"},"modified":"2026-08-11T18:05:23","modified_gmt":"2026-08-11T18:05:23","slug":"georgia-man-convicted-of-laundering-over-27000000-from-elderly-scam-victims-continues-activity-after-indictment","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=49509","title":{"rendered":"Georgia Man Convicted of Laundering Over $2,7000,000 From Elderly Scam Victims, Continues Activity After Indictment"},"content":{"rendered":"

\"\"<\/p>\n

Federal prosecutors have secured a conviction against a man involved in a widespread scam network that preyed on older adults and transferred millions of dollars to foreign locations.<\/p>\n

The schemes relied on building personal connections with victims before requesting cash for phony business opportunities, legal troubles and health costs, says<\/a> the U.S. attorney for the Northern District of Georgia.<\/p>\n

More than $2.7 million in illicit funds were sent to Babajide Adesayo, of Atlanta, Georgia, through an intermediary who presented them as payments for vehicles from Adesayo\u2019s dealership, after which he routed the money onward to places including Nigeria, Hong Kong and China.<\/p>\n

The jury convicted Adesayo on two conspiracy counts tied to money laundering plus 16 separate transactional money laundering charges.<\/p>\n

Authorities note that the man kept participating in the fraudulent activity following his indictment the previous year.<\/p>\n

Sentencing is scheduled for November 20th.<\/p>\n

Adesayo faces up to 20 years in prison for each conspiracy count, up to 10 years of imprisonment on the transactional money laundering counts and up to 10 years for committing offenses while on release.<\/p>\n

Prosecutors emphasized how the laundering methods helped conceal the origins of the stolen money across multiple countries.<\/p>\n

Victims typically lost significant sums after being persuaded to wire payments under false pretenses.<\/p>\n

Says U.S. Attorney Theodore S. Hertzberg,<\/p>\n

\u201cAdesayo was a key member of a complex, transnational network that preyed upon elderly victims and siphoned their retirement savings overseas, mainly to China, Hong Kong, and Nigeria, to make recovery impossible.\u201d<\/em><\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

The post Georgia Man Convicted of Laundering Over $2,7000,000 From Elderly Scam Victims, Continues Activity After Indictment<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Federal prosecutors have secured a conviction against a man involved in a widespread scam network that preyed on older adults and transferred millions of dollars to foreign locations. The schemes relied on building personal connections with victims before requesting cash for phony business opportunities, legal troubles and health costs, says the U.S. attorney for the […]<\/p>\n","protected":false},"author":1,"featured_media":49510,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-49509","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nGeorgia Man Convicted of Laundering Over $2,7000,000 From Elderly Scam Victims, Continues Activity After Indictment - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=49509\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Georgia Man Convicted of Laundering Over $2,7000,000 From Elderly Scam Victims, Continues Activity After Indictment - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Federal prosecutors have secured a conviction against a man involved in a widespread scam network that preyed on older adults and transferred millions of dollars to foreign locations. 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