Togo National Sentenced to Six Years for Laundering Nearly $3 Million in Fraud Proceeds

A federal judge in Maryland has sentenced Gedeon Agbeyome, a citizen of Togo residing in Silver Spring, Maryland, to six years in prison for his involvement in a money laundering conspiracy that facilitated nearly $3 million in losses. The sentence, handed down by U.S. District Judge Matthew J. Maddox, also includes one year of supervised release and an order for Agbeyome to pay over $2.9 million in restitution, along with a preliminary forfeiture order of $2.8 million. Agbeyome was convicted of conspiracy to commit money laundering and aggravated identity theft.

The scheme, which operated from June 2021 to May 2023, involved Agbeyome receiving a substantial portion of the funds generated from business email compromise fraud. Court documents indicate he obtained at least $2.8 million in illicit proceeds. To facilitate these transactions, Agbeyome established and controlled bank accounts using shell entities and the personal information of other individuals. He retained a portion of the fraudulent funds as compensation for his participation in the financial crimes. The investigation and subsequent sentencing were announced by U.S. Attorney Kelly O. Hayes for the District of Maryland, along with Special Agent in Charge Christopher R. Heck of Homeland Security Investigations (HSI) – Maryland, Special Agent in Charge Kareem A. Carter of the Internal Revenue Service-Criminal Investigation (IRS-CI) – Washington, D.C. Field Office, and Acting Special Agent in Charge George Golliday of the Environmental Protection Agency, Office of Inspector General (EPA-OIG).

Agbeyome’s involvement extended to an underlying wire fraud conspiracy that targeted a trust established to manage environmental remediation at a manufacturing facility in California. He admitted to using the personal identifying information of three individuals to open multiple bank accounts and obscure his connection to a CashApp account, all in service of the money laundering operation. This elaborate network of shell entities, which lacked significant operational infrastructure or reported business activity, was used to open and manage bank accounts that received the fraudulently obtained funds. The conspiracy led to the prosecution of at least 14 individuals.

The fraudulent operation utilized business email compromise tactics, where co-conspirators created deceptive email addresses resembling those of legitimate vendors or contractors. Victims were tricked into transferring funds to the shell entity bank accounts controlled by Agbeyome and his associates, believing they were making payments to legitimate business partners. Following the acquisition of these illicit funds, Agbeyome executed rapid and numerous financial transactions. These actions were designed to conceal the origin, nature, location, and ownership of the money, thereby furthering the business email compromises and other fraudulent schemes. Communication among Agbeyome and his co-conspirators occurred through in-person meetings, phone calls, and encrypted messaging applications like Telegram, as well as WhatsApp and text messages.

U.S. Attorney Hayes acknowledged the efforts of the HSI-led Document and Benefit Fraud/Mid-Atlantic El Dorado Task Force, and expressed gratitude to the IRS-CI and EPA-OIG for their contributions to the investigation. Assistant U.S. Attorneys Harry Gruber and Bijon A. Mostoufi, along with Paralegal Specialist Joanna B.N. Huber, were recognized for their crucial roles in prosecuting the case.

For individuals who believe they may have been victims of fraud or are seeking information on how to report fraudulent activities, resources are available through the Maryland U.S. Attorney’s Office website at justice.gov/usao-md and justice.gov/usao-md/report-fraud.

Article by Mel Anara, based upon information from the U.S. Attorney’s Office, District of Maryland.

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