United States of America v. Adedayo Fateru, Lisa Farrow, William Atwater, and Victoria Stone

Greensboro, North Carolina, criminal defense lawyer represented the Defendant charged with conspiracy to commit money laundering in violation of 18 U.S.C. 1956(h).

Internal Revenue Service Criminal Investigation and the United States Postal Inspection Services (“USPIS”) investigated Adedayo Fateru, a Nigerian citizen and U.S. Permanent Resident, Lisa Farrow, William Atwater, and Victoria Stone for a money laundering ring involving the proceeds of various wire fraud schemes including business email compromises (“BEC”), modified check schemes, false ACH schemes, false applications for Economic Injury Disaster Loans (“EIDL”) provided during the COVID-19 pandemic, and false applications for unemployment benefits. Farrow recruited Stone and Atwater into the conspiracy to work along with Fateru. Farrow and Fateru provided Stone and Atwater directions on opening bank accounts and how to move the fraud proceeds. Farrow and Fateru would also collect portions of the money that Stone or Atwater withdrew from their bank accounts.

Stone opened ten bank accounts and received, across those accounts, approximately $1,036,679 in proceeds from various wire fraud scams, including BECs. Stone was able to withdraw approximately $187,375 by conducting hundreds of smaller transactions, including automated teller machine withdrawals and debit card cash advances designed to move and conceal the fraud proceeds. William Atwater opened numerous bank accounts in his name to receive the proceeds of various wire fraud schemes including, among others, false applications for EIDLs and a BEC scam. In total, Atwater received fraud proceeds of approximately $704,320 into his bank accounts. Atwater was able to withdraw or remove approximately $390,352 by conducting over 150 different transactions designed to move and conceal the fraud proceeds.

Fateru was sentenced to 87 months of imprisonment followed by three years of supervised release. Upon completion of his sentence, Fateru will be transferred to ICE custody for removal proceedings in accordance with U.S. immigration law. Farrow was sentenced to 45 months of imprisonment followed by three years of supervised release, Atwater was sentenced to 33 months of imprisonment followed by two years of supervised release, and Stone was sentenced to 25 months of imprisonment followed by three years of supervised release.

Farrow was sentenced to 45 months of imprisonment followed by three years of supervised release.