Fintech Execs Convicted in US After $160 Million Sent to Nigeria
- Businessmen given 27-month sentences for laundering failings
- US business charged has ties to UK-licensed payments firm
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The operators of a Texan payments firm with ties to the UK pleaded guilty in the US to money laundering failures after their business facilitated the shipping of $160 million to Nigeria over about three years.
Anslem Oshionebo, 45, and Opeyemi Odeyale, 43, received 27-month prison sentences for failing to maintain effective anti-money laundering controls and unlicensed money transmitting, according to US legal filings. The Dallas-based company they owned and operated -- Ping Express US LLC -- faces five years of probation and a fine as high as $500,000 after pleading guilty to a similar charge, while another executive received a 42-month sentence, the Department of Justice said in a July 7 statement.