Oluwaseun Adekoya, also known by various aliases including “Ace G.” and “BRODA,” has been convicted of bank fraud conspiracy, money laundering conspiracy, and multiple counts of aggravated identity theft. The 39-year-old resident of Cliffside Park, New Jersey, was found guilty after a two-and-a-half-week trial for orchestrating a nationwide scheme targeting banks and credit unions across the United States.
United States Attorney John A. Sarcone III announced the conviction alongside Craig L. Tremaroli, Special Agent in Charge of the FBI’s Albany Field Office. Sarcone commended the collaborative efforts that led to Adekoya’s conviction, stating: “I commend the work of the FBI Albany, local law enforcement agencies and credit unions across the country, and Broadview Federal Credit Union here in Albany for bringing this relentless scammer to justice.”
Special Agent Tremaroli highlighted Adekoya’s complex fraudulent activities but emphasized the effective reach of law enforcement: “Mr. Adekoya was the mastermind of a complex web of deception, but he couldn’t escape the reach of the FBI and our partners.”
The trial presented evidence that Adekoya used publicly available information on home equity lines of credit (HELOCs) to target individuals with significant equity at localized credit unions. He utilized encrypted messaging platforms to gather personal identifying information (PII) such as Social Security numbers and account details. This information was then distributed to managers nationwide who facilitated fraudulent transactions using fake identities.
Adekoya’s criminal activities were uncovered following an investigation initiated by Broadview Federal Credit Union in May 2022. The subsequent probe revealed his leadership role in the operation and led to charges against 13 other co-conspirators, all of whom have pled guilty.
The defendant was arrested on December 12, 2023, following a federal search warrant execution at his luxury apartment where he attempted to destroy evidence. Authorities seized numerous items linked to his crimes including luxury goods worth hundreds of thousands of dollars.
Adekoya is scheduled for sentencing on October 30, 2025, before U.S. District Judge Mae A. D’Agostino. He faces up to 32 years in prison along with restitution obligations and potential deportation after serving his sentence.
In addition to Adekoya’s conviction, several other defendants involved in related conspiracies have pled guilty and await sentencing later this year.
The case was investigated by FBI-Albany with assistance from various federal and state law enforcement agencies across multiple states.
Assistant United States Attorneys Benjamin S. Clark, Mathew M. Paulbeck, and Joshua R. Rosenthal are leading the prosecution.
