Man Sentenced for $3M Money Laundering Scheme
Annapolis News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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31-year-old Togolese man, Gedeon Agbeyome, sentenced to six years in prison for money laundering scheme involving nearly $3 million in losses. Agbeyome, also known as Papa Kwam, pleaded guilty to conspiracy to commit money laundering and aggravated identity theft. He must pay back $2.9 million in restitution and forfeit $2.8 million. The scheme, which ran from June 2021 to May 2023, involved at least 14 co-conspirators who set up fake shell companies to hide money from business email scams. Agbeyome admitted using stolen identities to create accounts and pocketed a cut while shuffling money around to cover tracks. This sentencing marks a significant crackdown on international fraud rings.
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