A 40-year-old Nigerian man, Oluwaseun Adekoya, has been sentenced to 20 years in federal prison in Albany, New York, for masterminding an extensive bank fraud and money-laundering network that operated across the United States.
Adekoya—who used multiple aliases including “Ace G.,” “BRODA,” “Legendary,” “SANTA,” “SANTANA,” “Sammy LaBanco,” “Sean Maison,” and “Kiing_maison”—received his sentence on Monday, December 1, 2025.
Earlier this year, a jury convicted him of conspiracy to commit bank fraud, conspiracy to commit money laundering, and nine counts of aggravated identity theft following a three-week trial. The conviction was announced by Acting U.S. Attorney John A. Sarcone III and FBI Special Agent in Charge Craig L. Tremaroli.
How the scheme worked
Evidence presented at trial showed that from his luxury apartment in New Jersey, Adekoya accessed publicly available details on home equity lines of credit (HELOCs) held at small credit unions nationwide. To evade detection, he shifted his operations from region to region.
Using encrypted platforms such as Telegram, he acquired Social Security numbers, account details, and other personal information of individuals with substantial HELOC balances. He then supplied this data—along with forged driver’s licenses—to a nationwide network of managers and operatives who impersonated account holders and withdrew funds.
Adekoya relied on burner phones, encrypted apps, and bank accounts in other people’s names to hide his role, while also funding the ongoing scam by paying for fake IDs, travel, and rental cars for his associates.
Adekoya, a Nigerian citizen who became a U.S. permanent resident in 2004, has been involved in increasingly sophisticated fraud schemes since 2008. At sentencing, U.S. District Judge Mae A. D’Agostino described him as “a perpetual thief” and a “serial offender.”
He will serve five years of supervised release, must pay over $2.2 million in restitution, a $1,100 special assessment, and faces removal from the U.S. after completing his term.
The investigation
The investigation began in May 2022 after Broadview Federal Credit Union in Albany detected a pattern of impersonation attempts and alerted the FBI. The probe eventually exposed Adekoya as the leader of the national operation and led to charges against 13 other co-conspirators, all of whom pleaded guilty.
Adekoya was arrested on December 12, 2023. When agents entered his apartment, he attempted to wipe the primary phone used for the fraud, but the FBI recovered multiple burner phones and luxury items—including Rolex watches, a $51,000 Tiffany engagement ring, designer goods, and $26,000 in a laundering account—all of which have been forfeited.
Sentences for co-defendants
Several co-conspirators received significant prison terms, while others were sentenced to time served and supervised release. These include:
David Daniyan, 61 — 54 months, 1 year supervised release, $2.2M restitution
Kani Bassie, 36 — 11 years, 5 years supervised release
Davon Hunter, 27 — 42 months, 3 years supervised release, $469,499 restitution
Christian Quivers, 20 — 42 months, 3 years supervised release, $385,650 restitution
Jermon Brooks, 20 — 36 months, 2 years supervised release, $385,650 restitution
Akeem Balogun, 56 — 21 months, 2 years supervised release, $262,200 restitution
…and several others receiving time-served sentences with restitution.
A remaining co-defendant, Lesley Lucchese, 53, awaits sentencing next year.
The FBI-Albany office led the investigation with support from numerous federal, state, and local agencies across the country.
Assistant U.S. Attorneys Benjamin S. Clark, Mathew M. Paulbeck, and Joshua R. Rosenthal prosecuted the case.
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