Tallahassee, Fla. — Today, the Office of Financial Regulation (OFR) announced that more than $10,000 has been returned to a victim of a cryptocurrency-based romance scam. In October 2023, an arrest warrant was issued against Sunday Adebola, a Nigerian national, charging him with grand theft, scheme to defraud, money laundering, fraudulent use of a money service business, and stolen valor for his role in a romance scam. Adebola faces up to 30 years in prison if he attempts to enter the United States. As part of the case, 10,348.982117 Tether assets were seized. Following the arrest warrant, an Alachua County judge ordered the forfeiture of seized assets and returned the money to the victim in the amount of $10,087.25.
“This result is the first of its kind in the state of Florida, and with the hard work of OFR investigators, the Florida Attorney General’s Office of Statewide Prosecution’s Cyber Fraud Unit, and the Florida Department of Law Enforcement, we were able to return approximately 94 percent of the victim’s money,” said OFR Commissioner Russell C. Weigel, III. “The Office of Financial Regulation will continue to work tirelessly with our partners to protect Floridians from financial scams.”
Adebola used an online dating website to find victims by purporting to be Jayden Wallace, a U.S. Army soldier stationed overseas. As Wallace, Adebola gained a Florida victim’s trust and affection. He convinced the victim to provide him with her personal identifying information, open bank accounts and provide him access, and send him money via Bitcoin so he could purchase a flight to see her and clear a tax debt.
The victim sent Adeola $13,490 in Bitcoin she purchased using U.S. dollars at a virtual currency kiosk. An OFR investigation revealed that Adebola received the Bitcoin at an account with an international virtual asset service provider and then converted the Bitcoin to Tether, a stablecoin with a value attached to the U.S. dollar.
The OFR investigated the case, and the Florida Attorney General’s Office of Statewide Prosecution’s Cyber Fraud Unit issued the arrest warrant. The Florida Department of Law Enforcement and an international virtual asset service provider assisted with the seizure of the Tether assets.
Floridians who suspect questionable financial business practices are encouraged to file a complaint online at www.flofr.gov, or by calling (850) 487-9687.
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