LYNN — Emeka Iloba of Lynn was sentenced to 33 months in prison and six years of supervised release for his involvement in a scheme to defraud multiple financial institutions and obtaining money from customers using fraudulent identification documents, the U.S. Attorney’s office said.
Iloba, 27, was sentenced last Friday by U.S. District Court Judge Leo T. Sorokin, and was also ordered to pay $1,672,677 in restitution.
On Aug. 26, 2021, Iloba pleaded guilty to one count of conspiracy to commit bank fraud and one count of aggravated identity theft, prosecutors said.
Iloba participated in, and sometimes directed, a scheme to defraud multiple financial institutions. When carrying out the scheme, Iloba and others used fraudulent identification documents to withdraw money from customers’ bank accounts in the form of checks, cash and wire transfers.
These funds were then deposited in other bank accounts opened in the names of fake business entities before being withdrawn.
This scheme resulted in $1,672,677 in losses between April 2017 and March 2018.
