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8 years prison for California man in $2-million US Nigeria bank scam

Posted by Canadian Press on 2005/03/13 | Views: 2555 |

8 years prison for California man in $2-million US Nigeria bank scam


A Californian man of Nigerian descent was sentenced to more than eight years in U.S. federal prison Friday for running an international investment scam that defrauded investors of more than $2.1 million US through a Nigerian advance-fee scheme.

SACRAMENTO (AP) - A Californian man of Nigerian descent was sentenced to more than eight years in U.S. federal prison Friday for running an international investment scam that defrauded investors of more than $2.1 million US through a Nigerian advance-fee scheme.

Roland Adams, 38, admitted he conspired with others in Nigeria, South Africa and Canada to run the scheme. Potential investors were mailed letters supposedly from African government officials who wanted help in diverting millions of dollars held in bogus trusts or accounts.

In exchange for a future share of the fictitious money, the victims were persuaded to send in fees of up to several hundred thousand dollars to individuals or accounts around the world.

Adams, who owned Adams Business Services, gave the scheme an illusion of legitimacy by setting up websites such as Afribankcorp.com, Bancofafrica.com and Bancofeasterncarribean.com where victims could track the false transactions.

He pleaded guilty in August 2003 to conspiring to commit mail and wire fraud and conspiring to launder money and was sentenced to 97 months in prison.

He also was ordered to pay more than $1.2 million in restitution to victims, a portion of which will be paid from the forfeiture of his Elk Grove, Calif., home and $87,000 in various bank accounts.

He was separately convicted in April on charges of making false statements during his naturalization interview and sentenced to an identical prison term to be served at the same time. As a result, he was stripped of his U.S. citizenship Friday and will be deported back to Nigeria after he completes his prison sentence.

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