Olamide Extradited to U.S. Faces 20 Years in Prison Over $2m Fraud, Sextortion Scheme

Olamide has been extradited to U.S., faces 20 years in prison over $2m fraud and sextortion scheme.

 

NewsOnline Nigeria reports that United Kingdom-based Nigerian, Olamide Shanu, has been extradited to the United States to face trial over his alleged role in a multimillion-dollar fraud and sextortion scheme. The 34-year-old, originally from Lagos State, risks up to 20 years in prison if convicted.

The U.S. Department of Justice (DoJ), in a statement released Thursday, confirmed that Shanu was arraigned before a U.S. Magistrate Court on Wednesday on an eight-count charge. The charges include wire fraud conspiracy, aggravated identity theft, conspiracy to commit interstate communications with intent to extort, extortion, cyberstalking, and money laundering conspiracy.

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According to prosecutors, Shanu and his conspirators posed as women on social media to lure victims, mostly men into sending sexually explicit images of themselves. Once in possession of the images, they allegedly threatened to release them to friends and family members unless the victims paid money.

“The indictment alleges that the conspirators extorted numerous victims across the United States, including a college student in Idaho,” the DoJ stated.

Beyond the sextortion scheme, prosecutors allege Shanu laundered the criminal proceeds through cryptocurrency wallets. Investigators estimate that he and his co-conspirators fraudulently obtained at least $2 million.

If convicted, Olamide faces up to 20 years in federal prison, in addition to possible restitution payments to victims. The DoJ stressed that the indictment remains an allegation, and Shanu is presumed innocent until proven guilty in court.

Pattern of Nigerian Extraditions

Shanu’s case follows a similar development in August when another Nigerian, Chukwuemeka Victor Amachukwu, based in France, was extradited to the U.S. over alleged wire fraud, hacking, and identity theft that caused more than $819,000 in losses. Amachukwu faces up to 47 years in prison if convicted.