£10million Online Fraud Gang Busted and Jailed
A ruthless gang of five online fraudsters have been locked up for masterminding a staggering £10million payment diversion scam. The lengthy trial at Southwark Crown Court, which kicked off in October 2019, ended on 27 February with the cunning crooks found guilty. Sentencing followed the very next day.
Meet the Crooks and Their Sentences
- Olumuyiwa Ogunduyile, 39 – The ringleader from Greenwich, caught in April 2019. He got six years for fraud and seven and a half years for handling criminal property, served concurrently.
- Alex Enyiagu, 50 – The Barnet-based operator sentenced to six and seven years concurrently for fraud and conversion of criminal property.
- Mba Atuonwu, 48 – From Essex, jailed for six years on both counts.
- Satish Kotinadhuni, 44 – The “mule herder” from East London bagged five and six years concurrently.
- Declan Nathaniel Bannerman, 27 – The German-born Ghanaian from Sevenoaks got five and four years concurrent.
How They Pulled Off the Scam
The gang’s dirty trick was to infect business and personal email accounts with malware, stealing login details worldwide. They monitored these accounts for large money transfers, then intercepted and spoofed emails to reroute payments into UK-based ‘mule’ bank accounts they controlled. Victims thought they were paying legitimate firms or conveyancing solicitors but instead handed over their cash to crooks.
They also sold fake “binary currency trading” investments, conning victims out of thousands. One victim lost a staggering £185,000 after initially investing £2,500 – all in a sham scheme.
The Mule Network and Money Laundering
Running the fraud needed a ready supply of mule accounts – the gang used 100 in total. Satish Kotinadhuni and Declan Bannerman recruited these accounts from dishonest individuals and vulnerable youngsters on social media, often promising easy cash.
Olumuyiwa Ogunduyile was the mastermind linking fraudsters and mule suppliers. When arrested, he tried to destroy evidence by running three iPhones through a washing machine – but police still retrieved crucial data.
Alex Enyiagu and Mba Atuonwu operated an informal “Hawala” money transfer system, funneling stolen funds through legitimate UK exports to Nigeria to clean the cash.
Police Warn Over Email Payment Scams
Detective Constable Chris Collins from the North West London Economic Crime Unit said: “I am very pleased with today’s verdicts. This was a lengthy trial due to the defendants’ refusal to admit guilt despite overwhelming evidence.”
“A common feature in cases like this is the use of mule bank accounts. People should always double-check bank details for payments by contacting the recipient through a different method than email.”
“And remember, any genuine investment firm will not use multiple private bank accounts in different names for transactions.”
The Met Police, aided by the National Fraud Intelligence Bureau and Action Fraud, traced 235 separate frauds carried out between 2014 and 2019, raking in over £9million.
Financial crime fighters remain vigilant, warning individuals and businesses to stay alert against cunning online scams.
