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Now the unfortunate criminal will answer for himself and all his cyber accomplices.
A Nigerian man extradited to the United States was recently found guilty of participating in a multi-million dollar corporate email compromise (BEC) scam.
Kosi Goodness Simon-Ebo, 29, admitted last Friday to conspiracy to commit bank transfer fraud and conspiracy to commit money laundering.
From February to July 2017, Simon-Ebo, along with several accomplices, including those living in the US state of Maryland, illegally accessed victims' email accounts and convinced them to transfer funds to bank accounts controlled by fraudsters using fake letters.
According to court documents, Simon-Ebo and his co-conspirators laundered stolen funds by transferring money to other accounts, withdrawing cash and collecting cashier's checks.
Although the attackers were supposed to steal about $7 million (fake financial documents were sent for this amount), their actual income was just over $1 million. At the same time, Simon-Ebo personally controlled funds in the amount of $45,925, according to the US Department of Justice (DoJ).
As part of the plea agreement, Simon-Ebo is required to pay compensation and full restitution to the victims in the amount of more than a million dollars.
The man faces a maximum penalty of 20 years in prison for conspiracy to commit fraud and money laundering. Simon-Ebo was extradited from Canada to the United States on April 12, 2023, and only last week finally admitted the charges against him.
BEC is still one of the most effective ways for cybercriminals to make money. According to information provided by the FBI, last year this type of attack became the second most profitable and in total brought in more than $2.7 billion to scammers.
__________________
A Nigerian man extradited to the United States was recently found guilty of participating in a multi-million dollar corporate email compromise (BEC) scam.
Kosi Goodness Simon-Ebo, 29, admitted last Friday to conspiracy to commit bank transfer fraud and conspiracy to commit money laundering.
From February to July 2017, Simon-Ebo, along with several accomplices, including those living in the US state of Maryland, illegally accessed victims' email accounts and convinced them to transfer funds to bank accounts controlled by fraudsters using fake letters.
According to court documents, Simon-Ebo and his co-conspirators laundered stolen funds by transferring money to other accounts, withdrawing cash and collecting cashier's checks.
Although the attackers were supposed to steal about $7 million (fake financial documents were sent for this amount), their actual income was just over $1 million. At the same time, Simon-Ebo personally controlled funds in the amount of $45,925, according to the US Department of Justice (DoJ).
As part of the plea agreement, Simon-Ebo is required to pay compensation and full restitution to the victims in the amount of more than a million dollars.
The man faces a maximum penalty of 20 years in prison for conspiracy to commit fraud and money laundering. Simon-Ebo was extradited from Canada to the United States on April 12, 2023, and only last week finally admitted the charges against him.
BEC is still one of the most effective ways for cybercriminals to make money. According to information provided by the FBI, last year this type of attack became the second most profitable and in total brought in more than $2.7 billion to scammers.
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