• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

How US busted Ghana’s $50 million ‘sakawa’ empire run by 6 men

4 years ago
in Business, Cyber-security, highlights, Home, home-news, latest News
2 min read
0 0
0
149
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

Investigative authorities in the United States this week announced the arrest of six Ghanaians suspected to be involved in a cyber-fraud operation that saw them rip off victims to the tune of $50 million.

According to the US Attorney’s Office for the Southern District of New York, the defendants were arrested across a number of states at different times.

The identities of the suspects were given as follows: Farouk Appiedu, Fred Asante, Celvin Freeman, Lord Aning, Sadick Edusei Kissi, and Faisal Ali.

The operation that led to their arrest spanned between 2013 and 2020 during which period the group committed a series of business email compromises and romance scams against individuals and businesses located across the United States.

The frauds perpetrated by the Enterprise have consisted of, among other frauds, business email compromises, romance scams, and fraud schemes related to the novel coronavirus/COVID-19 pandemic, an official statement said in part.

Collectively over the period of their operations, four of the six suspects, Appiedu, Asante, Freeman, and Aning; were said to have controlled more than 45 bank accounts that had deposits that totalled over approximately $55 million.

The operation was undertaken by the New York Offices of the Federal Bureau of Investigations, FBI, and the Internal Revenue Service, Criminal Investigations (IRS, CI). Prosecution of the case is being handled by the Office’s Complex Frauds and Cybercrime Unit.

Three-step modus operandi

First, the objective of the Enterprise’s business email compromise fraud scheme was to trick and deceive businesses into wiring funds into accounts controlled by the Enterprise through the use of email accounts that “spoofed” or impersonated employees of a victim company or third parties engaged in business with a victim company.

Second, the Enterprise conducted the romance scams by using electronic messages sent via email, text messaging, or online dating websites that deluded victims, many of whom were vulnerable older men and women who lived alone, into believing the victim was in a romantic relationship with a fake identity assumed by members of the Enterprise.

Once members of the Enterprise had gained the trust of the victims using the fake identity, they used false pretenses to cause the victims to wire money to bank accounts the victims believed were controlled by their romantic interests, when in fact the bank accounts were controlled by members of the Enterprise.

Finally, the Enterprise submitted fraudulent loan applications through a loan program of the United States Small Business Administration (the “SBA”) designed to provide relief to small businesses during the COVID-19 pandemic, namely the Economic Injury Disaster Loan (“EIDL”) Program.

The Enterprise submitted fraudulent EIDL applications in the names of actual companies to the SBA and when an EIDL loan was approved, the funds were ultimately deposited in bank accounts controlled by members of the Enterprise, including certain of the defendants.

Details of retrieved vehicles

As part of the investigation of one of the accused, Farouk Appiedu, the US government further announced the seizure and is seeking the forfeiture of four luxury cars purchased, at least in part, with fraud proceeds.

The seized automobiles include two 2019 Rolls Royce Cullinans, a 2020 Bentley Continental GT, and one 2020 Mercedes-Benz G63 AMG.





Tags: business email compromisesCybercrime UnitFBIfraud schemesfraudsromance scamsUS Attorney’s Office
No Result
View All Result

Highlights

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

Government on Course to Exceed 2025 Macroeconomic Targets 

Finance Ministry Invites Public Input for 2026 – 2029 Budget

CHAN 2024: Uganda Dominates Guinea; South Africa Holds Algeria

Ipswich Salvages Late Point in Championship Opener Against Birmingham

GFA and BetPawa Enhance partnership; Locker Room Bonus Extended to Malta Guinness Women’s Premier League for 2025/26 Season

Trending

Banking & Finance

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

August 9, 2025

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024 The Bank of Ghana’s (BoG) Credit Reporting...

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

August 9, 2025

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

August 9, 2025

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

August 9, 2025

Government on Course to Exceed 2025 Macroeconomic Targets 

August 9, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.