One down, several thousand to go!

[gridlore]

Eight years prison for Sacramento man in $2 million Nigerian bank scam

A Sacramento man of Nigerian descent was sentenced to more than eight years in federal prison Friday for running an international investment scam that defrauded investors of more than $2.1 million through a Nigerian advance fee scheme.

Roland Adams, 38, admitted that he conspired with others in Nigeria, South Africa and Canada to run the scheme. Potential investors were mailed letters supposedly from African government officials who wanted help in diverting millions of dollars held in bogus trusts or accounts.

In exchange for a future share of the fictitious money, the victims were persuaded to send in fees of several thousand to several hundred thousand dollars to individuals or accounts around the world.

Adams, who owned Adams Business Services, gave the scheme an illusion of legitimacy by setting up Web sites such as Afribankcorp.com, Bancofafrica.com and Bancofeasterncarribean.com where victims could track the false transactions.

He pleaded guilty in August 2003 to conspiring to commit mail and wire fraud, and conspiring to launder money, and was sentenced to 97 months in prison.

He also was ordered to pay more than $1.2 m

Comments

[robertprior.livejournal.com]

You know, I wonder if there's a way to also charge the so-called investors. I mean, if they thought that they were getting a share of illegal money, then by intent at least they're guilty of theft...

[pauldrye.livejournal.com]

Probably not. A lot of scams hinge on the greed of the marks, and I don't think anyone's ever done anything about it.

[aurictech.livejournal.com]

I suspect that the marks' defense would hinge on the idea that, as far as they knew, the money was legitimately the property of the the scammer. I have no idea how well this would play in court, though.