The FBI has arrested Houston-based entrepreneur Edikan Adiakpan over his alleged role in a massive fraud scheme.
Adiakpan, co-founder of Akama Lifestyle, was indicted in the United States for wire fraud and money laundering offenses.
The Akama CEO fraud scheme reportedly targeted firms across eight states, including one aiding treatment for American military veterans.
Akama Lifestyle was previously profiled as a booming luxury transport firm serving wealthy clients, celebrities, and professional athletes.
Edikan and his brother Edifon were once praised for transforming a passion for cars into a multimillion-dollar concierge business.
In a 2021 interview, Adiakpan described Akama as a “virtuous lifestyle” brand offering luxury cars, jets, and bespoke services.
However, prosecutors say the Akama CEO fraud scheme involved business email compromise and laundering millions through fake transactions.
The FBI alleges that spoofed emails redirected payments into bank accounts under Adiakpan’s control and then laundered accordingly.
Authorities say the funds were moved between several accounts, turned into cashier’s checks, and cashed with retained “processing” fees.
Adiakpan, 33, faces up to 20 years in federal prison if convicted, alongside heavy fines reaching $250,000 per charge.
He is expected to appear before a U.S. magistrate judge in Houston to answer to wire fraud and laundering charges.
Another suspect, Ayobami Omoniyi, 26, already charged in the case, is currently awaiting sentencing by federal authorities.
The Akama CEO fraud scheme is being investigated jointly by the FBI and IRS Criminal Investigation unit in Texas.
The case highlights growing concerns over Nigerian-American fraud rings using fake business emails to steal corporate payments nationwide.
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