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Funmi Abimbola jailed for three years Subscribe to our news service at HERE What Happened? Funmi Abimbola, a 26-year-old bank worker from Ireland, has been sent to prison for three years for aiding the Black Axe organised crime group in money laundering operations. Abimbola was in fact sentenced in the Circuit Criminal Court today to five years in prison with two suspended. Black Axe, known as a highly dangerous transnational organisation, is involved in various criminal activities, including fraud, trafficking, and violent crimes. Abimbola, who had a master's degree and a respectable position at the Bank of Ireland, was responsible for managing money mules and handling accounts for the group in Ireland. His criminal activities were uncovered during a broader investigation by the Garda National Economic Crime Bureau (GNECB) and Interpol into the Black Axe organisation. Abimbola's involvement became apparent after the investigation into a €1 million invoice redirection fraud from a solicitor’s office. Authorities found him using false identities, purchasing items with laundered money, and coordinating through encrypted messaging platforms with other members of the criminal group. Despite being initially released on bail, Abimbola fled to the UK but was later extradited back to Ireland, where he received a five-year sentence, two of which were suspended. Several other individuals associated with the money laundering scheme received suspended sentences. Of the €1m stolen from the solicitor’s office €700,000 of that money was recovered and ten people were convicted of laundering the money. Judge Pauline Codd said that he was "effectively oiling the wheels" of this crime. The judge also noted the irony of Abimbola having worked for Bank of Ireland during the commission of some of the offences. Gardaí and Interpol have been focused on the activities of the organised crime group known as Black Axe which originated in West Africa but has a global footprint. Black Axe has been involved in online fraud, human trafficking, drugs and gun crime as well as murder. Others convicted include:
Lessons for MLROs This case underscores critical areas of focus for Money Laundering Reporting Officers (MLROs):
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 Written by a www.MoneyLaundering.ie Guest Contributor Subscribe to our news service at HERE What happened?What happened? A man has been arrested after being identified as a suspected money mule herder following the search of a residence in West Tallaght, Dublin. Gardaí from the Garda National Economic Crime Bureau (GNECB) carried out a search at the property as part of a larger investigation into incidents of fraud in Norway, Germany, the US, Hawaii and Ireland. The investigation also looked into the subsequent laundering of money through money mule accounts, businesses, and trade-based money laundering operations. "Up to 50 different money mules have been identified as having laundered over €196,000 through his bank accounts in Ireland, Germany and Belgium," a Garda spokesperson said. "This money came from victims of mainly smishing frauds in Ireland, was initially laundered through these 50 money mule accounts and then forwarded by the money mules to the suspects' three bank accounts." During the course of the search, a number of items, including a "high value" Range Rover, which was suspected to have been purchased with the proceeds of crime, were seized. The following items were also seized:
 Range Rover seized by Gardai What’s interesting?What’s interesting?
Source: https://www.irishexaminer.com/news/courtandcrime/arid-41205400.html Subscribe to our news service at HERE
Subscribe to our news service at HERE A 21-year-old Tralee man has pleaded guilty to four charges including money laundering relating to sums totalling over €50,000.
Tralee Circuit Criminal Court was told that the case of Fortunatus Ankomah of Rath Óraigh, Tralee, is the latest to arise from a major operation by gardaí. Fortunatus Ankomah pleaded guilty to three counts of converting, transferring, handling, acquiring, possessing, or using property which he knew, believed to be, or was reckless as to whether or not it was the proceeds of criminal conduct. This is an offence under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The first count related to a sum of €10,000, which was credited to an AIB account on 19th January 2021. The second count related to a sum of almost €22,000, which was credited to a separate AIB account on a date between 21st January and 26th January 2021. The third count related to a sum of almost €20,000, again credited to a third separate AIB account between March and June of 2021. Mr Ankomah also admitted to one charge relating to organised crime, whereby he enhanced the ability of a criminal organisation to commit money laundering, by participating in or contributing to an activity of that organisation. Subscribe to our news service at HERE The now 26-year-old woman was before Letterkenny Circuit Court on money laundering charges related to sums totalling €3,000 which she allowed to pass through her Revolut account.
A former ATU Donegal student who admitted being reckless in allowing her Revolut account to be used for money laundering has received a deferred sentence. Detective Garda Gerard McCready gave an outline of the case against Ms Balogun, who now lives and works in London. He told how a sum of €3,000 came into Ms Balogun's Revolut account from the bank account of another person on various dates in June, 2020. The money came in ten different instalments of €300. The funds later left Ms Balogun's account and the bank account it was transferred to was closed in August 2020. Subscribe to our news service at HERE Teenagers in secondary school, and some in third level, were paid thousands of euro to allow their bank accounts be used by a fraud gang recruiting in Co Kerry, only to be caught and convicted. While some of the younger offenders were dealt with under the Garda’s junior liaison scheme, others were convicted under anti-terrorism and money-laundering legislation.
The young people were working as so-called mules to facilitate money-laundering by a fraud gang, with controlling members based in Ireland and abroad. Each student allowed between €2,000 and €65,000 to pass through their accounts, for payments of between 10 and 15 per cent of the core sums. News of the scale of the operation in Kerry first emerged in The Irish Times two years ago when it was revealed about 50 young people had been recruited by one of their peers in the community. They surrendered their bank account details, and logins, so money from online frauds could be moved and laundered through the accounts. The Kerryman newspaper on Tuesday reported the total amount that passed through the accounts of the young suspects in Co Kerry reached €1.3 million. While that sum is not large on a national scale, it is a new departure for an organised crime network in the county. The bank accounts used were with mainstream banks and other institutions allowing for accounts to be opened online, including Revolut, N26 and TransferWise. Some of the mules, aged 16-20 years, allowed more than one of their accounts to be used. Det Sgt Ernie Henderson, from the Divisional Crime Team in Kerry, said the money that passed through the accounts had been stolen in scams involving bogus texts and emails – known as vishing and smishing – to unsuspecting people and companies. This tricked them into sending money to the accounts controlled by the gang. In other cases, the scammers extracted victims’ bank account details to steal their money, by transferring it into the young people’s accounts they controlled. Det Sgt Henderson confirmed some of the young people were prosecuted under the Money Laundering and Terrorist Financing Act 2010, with more than 30 Kerry-based mules already dealt with. He added this would disbar them from many opportunities, including securing visas for travel and work abroad and many other job opportunities. Det Sgt Henderson said some of the senior personnel, known as “herders”, in the gang were using Instagram, Snapchat, TikTok and other platforms “recruiting people to make easy money” by allowing their accounts to be used. “In this particular operation, it was a person that was known to [the young people in Kerry] and living in the community here,” he said of the man recruiting the students in the Tralee area. “That matter is still currently under investigation for him.” https://www.irishtimes.com/crime-law/2024/01/31/kerry-based-money-mules-laundered-13m-for-fraud-gang/ |
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