In a case that underscores the global reach of cyber-enabled financial crimes, a 40-year-old Nigerian national, Yomi Jones Olayeye, also known by the alias “Sabbie,” has pleaded guilty to orchestrating a sophisticated multi-state fraud scheme that sought to siphon over $10 million from U.S. pandemic unemployment relief programs.
The U.S. Department of Justice announced on Wednesday that Olayeye entered guilty pleas to charges of wire fraud conspiracy, wire fraud, and aggravated identity theft. He was arrested in August 2024 at New York’s John F. Kennedy International Airport and is currently being held in federal custody. Sentencing is scheduled for August 13, 2025, before U.S. District Judge Mark L. Wolf.
According to federal prosecutors, Olayeye and a network of co-conspirators exploited the chaos of the early pandemic months between March and July 2020, targeting multiple government relief programs—including Traditional Unemployment Insurance (UI), Pandemic Unemployment Assistance (PUA), and Federal Pandemic Unemployment Compensation (FPUC). Their operation spanned at least nine states, including Massachusetts, Hawaii, Indiana, Michigan, Pennsylvania, Montana, Maine, Ohio, and Washington.
Investigators revealed that the fraudsters used stolen personal information—procured from dark web criminal forums—to file bogus claims in the names of unsuspecting U.S. citizens. The group set up U.S.-based bank and prepaid card accounts to receive the funds, and recruited local collaborators to funnel the stolen money through various mobile payment platforms.
To cover their digital footprints, the syndicate converted illicit proceeds into Bitcoin and used leased U.S.-based IP addresses to obscure their activities. While the conspirators attempted to defraud the system of over $10 million, authorities confirmed they successfully pocketed at least $1.5 million.
The criminal charges come with stiff penalties: wire fraud and conspiracy each carry a potential sentence of up to 20 years in prison, while aggravated identity theft mandates a minimum of two years behind bars—served consecutively. Olayeye also faces potential fines, restitution orders, and the forfeiture of any assets tied to the fraud.
The case is being prosecuted by Assistant U.S. Attorneys Seth B. Kosto and Meghan C. Cleary of the Securities, Financial & Cyber Fraud Unit. The extensive investigation was led by the U.S. Secret Service, the Department of Labor’s Office of Inspector General, and the Federal Bureau of Investigation.
This prosecution forms part of the ongoing efforts of the COVID-19 Fraud Enforcement Task Force, established in May 2021 to root out and bring to justice individuals and networks who sought to exploit pandemic relief programs meant to aid struggling Americans.
As the U.S. continues to recover from the economic wounds of the pandemic, federal authorities remain vigilant against opportunists who turned global crisis into personal gain.
PIONEER NEWS 