$2m Fraud: UK-Based Nigerian Extradited to US, Faces 20-Year Jail Term

A 34-year-old Nigerian man, Olamide Shanu, has been extradited from the United Kingdom to the United States, where he now faces charges in connection with a $2 million fraud scheme.

The US Department of Justice (DoJ), in a statement released on Thursday, confirmed that Shanu, originally from Lagos State, appeared before a US Magistrate Court on Wednesday. He is standing trial on an eight-count indictment that includes charges of wire fraud conspiracy, aggravated identity theft, extortion-related offenses, and cyberstalking.

Prosecutors allege that Shanu and his accomplices posed as women on social media platforms to lure unsuspecting men into sending explicit photos of themselves. Once the images were obtained, the group allegedly threatened to expose the victims to their families and friends unless they complied with extortion demands.

“The indictment alleges that Shanu and his co-conspirators targeted several victims across the United States, including a college student in Idaho, extorting them by threatening to circulate their private images,” the DoJ said.

Investigators further allege that the group laundered proceeds of the scheme through cryptocurrency wallets, with Shanu personally benefitting from at least $2 million.

If convicted, Shanu could face up to 20 years in federal prison, alongside restitution to the victims. The DoJ, however, emphasized that the indictment remains an allegation and that the defendant is presumed innocent until proven guilty in court.

Shanu’s case comes just weeks after another Nigerian, Chukwuemeka Victor Amachukwu, was extradited from France to the US over separate allegations of hacking, wire fraud, and identity theft that cost victims over $800,000.