A major fraud syndicate operating across multiple countries has been exposed as U.S. authorities arrested and extradited Nigeria-born Matthew Abiodun Akande over a multi-million dollar benefits scam. Akande, who was based in Mexico, allegedly led a criminal network that exploited stolen personal information of American citizens to siphon millions in fraudulent government benefits.

$8.1 Million Social Benefits Fraud Unveiled

An indictment unsealed on Wednesday revealed that Akande, 36, orchestrated a complex scheme to file fraudulent claims amounting to approximately $8.1 million. At least $1.3 million was successfully obtained through illicit means. He appeared in a Boston, Massachusetts court for a preliminary hearing following his extradition from London on March 5.

Arrest and Extradition

Akande was apprehended at London Heathrow Airport on October 24, 2024, and following legal proceedings, was transferred to the United States for trial. U.S. prosecutors detailed how he leveraged fraudulent phishing emails to target tax preparation firms, ultimately gaining access to sensitive financial data.

Malware Attack on U.S. Tax Firms

According to officials, Akande deployed remote access trojan (RAT) malware, including the notorious Warzone RAT, through deceptive emails. These emails, masquerading as legitimate client inquiries, infiltrated five Massachusetts-based tax firms, allowing the fraudsters to steal prior-year tax information and personal identifying details (PII) of their clients.

Massive Tax Refund Fraud Scheme

Authorities traced at least 1,000 fraudulent tax returns linked to Akande’s network, which spanned a five-year period between June 2016 and June 2021. The illicitly obtained funds were funneled into Mexico before being dispersed among the fraudsters.

Co-Conspirator Already Convicted

Akande’s associate, Kehinde Oyetunji, also a Nigerian national, had earlier been convicted and sentenced for his role in the scheme. Law enforcement officials stated that the investigation remains ongoing as they seek to dismantle the entire network.

Charges and Legal Proceedings

Facing multiple charges of identity theft and government fund fraud, Akande remains in custody pending trial. The court is set to appoint legal representation for him as proceedings move forward.

Nigerians in High-Profile U.S. Fraud Cases

This case adds to a growing list of Nigerian-origin individuals facing high-profile fraud prosecutions in the United States. Recently, a Nigerian politician and a traditional ruler have also been indicted in separate fraud cases, signaling a crackdown on international financial crimes.

Conclusion

With an ongoing investigation into Akande’s syndicate, U.S. authorities continue to tighten the noose on cybercriminals exploiting government systems. The case highlights the rising threat of cyber fraud and the global law enforcement collaboration needed to combat financial crimes.

For more updates on financial fraud, cybercrime, and international extraditions, stay tuned to our reports.