The United States Secret Service has exposed a $2.5 million wire fraud, money laundering, and sextortion Scam scheme orchestrated by a Lagos-based individual, 32-year-old Olamide Shanu.
The accused, now facing 13 indictment charges in the U.S., allegedly posed as a female on social media platforms like Instagram and Snapchat to exploit unsuspecting male teenagers and adults.
Shanu’s modus operandi involved establishing deceptive intimate relationships, obtaining explicit images, and subsequently threatening victims with exposure unless they paid extortion sums. Victims, including minors, fell prey to the scam, with one teenager coerced into paying $1000.
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The U.S. District Court for the District of Idaho revealed that Shanu operated multiple accounts, hacking into original profiles of minors to commit fraud. The Secret Service traced over 84.66478598 BTC (approximately $2.6 million) flowing through Shanu’s Binance account, now seized, over three years.
The indictment details harrowing messages sent to victims, threatening to ruin lives by exposing explicit content to friends, family, and social media contacts. Investigations unveiled Shanu’s identity through IP addresses, Gmail account, and West African Examination Council results.