Nigerian Fintech Company Owners Jailed In United States Over $160m Proceeds Of Fraud Sent To Nigeria | Sahara Reporters

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Anslem Oshionebo, 45, and 43-year-old Opeyemi Odeyale were sentenced after being found guilty of failing to maintain effective anti-money laundering controls and unlicensed money transmitting, Bloomberg reports.

The founders of Ping Express US LLC, a Texan payments corporation with connections to the United Kingdom, were given a 27-month prison term for allegedly sending $160 million in proceeds of fraud to Nigeria through the business.Remittances from Dallas-based Ping Express customers were sent to Kenya, Nigeria, and other countries in Africa.

One customer used the firm to move funds they made from fake-romance scams, with victims including a woman in Indiana who sent $15,000 to a supposed roughneck oil worker in the Gulf of Mexico, and another who sent $6,300 to a purported Irish sea captain.Another customer moved more than $80,000 in a single month, far more than the company’s $4,500 limit, court filings show.

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Yahoo yahoo in disguise

So are they being jailed for the fact that unscrupulous elements used Their platform? Or that they transacted way above their limit which could easily just be counted as an corporate infringement .. all I see is the fact they’re hating on a successful black owned business💔

So DavidHundeyin has been right all along

I laugh ,when the western world are taking our money thru offshore account ,its OK but when we do it and send money to Africa ,it becomes a criminal offence

Naso dem dey do, Scammers!

It seems like most of these finetechs are actually Certified Pro Dignified Yahoo Yahoo companies 🤔

techwithlanre

Some politicians might be involved

I want flutterwave jail too

He will still come to Nigeria to contest election and some bigots and brain-dull dudes will defend and vote for him. TheNigerianStory

Corporate Yahoo Yahoo 😫😭😭😭

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