An Irish criminal court has handed down a combined 16-year prison sentence to two Nigerian nationals convicted of running a large-scale international cyber fraud operation that targeted companies across Europe and the United States.
The ruling was delivered by the Dublin Circuit Criminal Court, which found Morufu Adeyinka and Henry Ogisi guilty of orchestrating a sophisticated Business Email Compromise, BEC, scheme that resulted in losses estimated at €6 million between 2018 and 2021.
Brandspur Banking News Desk reports that prosecutors told the court the fraud ring operated with a structured, industrial-style workflow. The group unlawfully accessed corporate email systems using phishing attacks and malware, monitored internal correspondence, and intercepted legitimate invoice communications between businesses and their clients.
Once sensitive payment details were obtained, the fraudsters issued altered emails to unsuspecting companies, falsely notifying them of changes in bank account information. Victims then transferred funds, ranging from thousands to hundreds of thousands of euros, into Irish-based accounts controlled by the syndicate.
Investigators said more than 150 companies across Ireland, the United Kingdom, and the United States were affected. While the total attempted fraud exceeded €6 million, law enforcement agencies were able to trace and recover part of the stolen funds through coordinated inter-bank action.
Adeyinka was sentenced to nine years in prison after the court established that he played a leading role in managing the group’s digital infrastructure and recruiting money mules to move illicit funds. Ogisi received a seven-year sentence for laundering and distributing proceeds from the fraud.
Delivering judgment, presiding judge Martin Nolan said the scale and sophistication of the crime posed a serious threat to international business confidence. He noted that the sentences were intended to reflect both the financial harm caused and the need to deter organised cybercrime.
The case also highlighted the growing risks posed by BEC fraud, which remains one of the most profitable forms of cybercrime globally. Authorities warned businesses to strengthen internal controls, verify payment instructions, and invest in cybersecurity awareness to prevent similar attacks.
The investigation was led by Ireland’s Garda National Economic Crime Bureau in collaboration with international law enforcement agencies, underscoring the increasing cross-border cooperation in tackling complex digital financial crimes.
