Yomi Olaleye, a Nigerian national from Lagos State, has been arrested and charged in the United States for allegedly stealing $10 million from COVID-19 employment relief funds. He was taken into custody at John F. Kennedy International Airport in New York City on August 13, 2024, and faces charges of conspiring to obtain the funds.
The arrest was announced by acting U.S. Attorney Joshua Levy, along with several special agents from various federal agencies, including the U.S. Secret Service, Department of Labor, and FBI. This is part of the U.S. government’s ongoing efforts to combat pandemic-related fraud, led by the COVID-19 Fraud Enforcement Task Force established by the Attorney General.
Olaleye has been charged with three counts: wire fraud conspiracy, wire fraud, and aggravated identity theft. He made his first court appearance in the Eastern District of New York on August 14, 2024.
According to the statement, Olaleye and his co-conspirators allegedly used stolen personal information purchased from criminal online forums to falsely claim relief funds. They then used this information to open U.S. bank and prepaid debit card accounts, recruit U.S.-based account holders to transfer the funds, and purchase bitcoin online. To conceal their connection to Nigeria, they allegedly leased U.S.-based IP addresses for use in the fraudulent transactions.
If convicted, Olaleye faces severe penalties, including up to 20 years in prison, three years of supervised release, a fine of $250,000 or twice the gross gain or loss, and forfeiture and restitution.
