BOSTON – A Lynn man pleaded guilty yesterday in connection with his involvement in a scheme to defraud several financial institutions and obtain money from their customers using fraudulent identification documents.
Emeka Iloba, 27, pleaded guilty to one count of conspiracy to commit bank fraud and one count of aggravated identity theft. U.S. District Court Judge Leo T. Sorokin scheduled sentencing for Dec. 16, 2021. Iloba was charged with an alleged co-conspirator on March 15, 2021.
As stated during the plea hearing, Iloba participated in and at times directed a scheme to defraud financial institutions. To carry out the scheme, Iloba and others used fraudulent identification documents, among other means, to withdraw money from customers’ accounts at various banks in the form of checks, cash and wire transfers. The fraudulently-obtained funds were then deposited in other bank accounts opened in the names of fictitious business entities before being withdrawn. According to the charging documents, this scheme resulted in over $1.5 million in losses between April 2017 and March 2018.
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