Georgia: Dare Arrested for Multi-Million Dollar Conspiracy

Georgia: Dare Arrested for Multi-Million Dollar Conspiracy

Georgia Man, Oluwadamilare Kolaogunbule Arrested for Multi-Million Dollar Conspiracy to Launder Romance Scam Proceeds
Scams Targeted Victims in the Eastern District of North Carolina

RALEIGH, N.C (STL.News) A Smyrna, Georgia man was arrested and had his first appearance in federal court in Atlanta today on charges of laundering the proceeds of romance scams that targeted victims in the Eastern District of North Carolina and throughout the United States.

According to court documents, Oluwadamilare Kolaogunbule, a/k/a “Dare,” opened, maintained, and controlled multiple bank accounts, referred to as “drop accounts,” that were used to receive, move, and obscure criminal proceeds, including funds derived from romance scams.  A romance scam refers to a type of scheme in which scammers create fake profiles on Internet dating sites for the purpose of identifying victims, forming fraudulent romantic relationships with them, and then exploiting them for profit.  According to the allegations in the indictment, co-defendant Samuel Ugberaese, a/k/a “Putsammy,” a Nigerian national, and his co-conspirators used romance scam techniques, including false stories and promises, as a means to defraud victims into transferring money on their behalf. It is alleged that Kolaogunbule conspired with Ugberaese to conduct financial transactions through his bank accounts, including accounts registered to purported Georgia export companies, in order to conceal and disguise the nature, location, source, ownership, and control of the criminal proceeds. 

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