By Ighomuaye Lucky. O
A Nigerian lawyer, Okechukwu Josiah Odunna, has been extradited from Abuja, Nigeria to the Southern District of Florida, United States to answer to charges of alleged fraud.
He is to face charges related to a multimillion-dollar mortgage fraud scheme that defrauded US financial institutions of about $8 million.
In a statement on Friday, March 7, the US Justice Department said that Odunna was arrested on September 24, 2024, and extradited on Thursday, March 6, by Nigerian authorities pursuant to a US extradition request. Odunna, detained in Nigeria since his arrest, waived extradition.
Facing charges of wire fraud and conspiracy to commit wire fraud affecting a financial institution, the defendant on Friday, March 7, made his initial appearance in a federal court in Miami, Florida, where he is accused of playing a key role in a fraud scheme in which he fraudulently obtained loans in connection with the fraudulent purchases of approximately 20 residential properties in Florida.
On March 11, Odunna will appear at his pretrial detention and arraignment hearings before US Magistrate Judge Jonathan Goodman.
According to the indictment, between December 2005 and May 2008, Odunna and his co-conspirators allegedly devised a scheme to defraud and to obtain money by making false representations and material omissions to US banking institutions.
As part of the scheme, Odunna and his co-conspirators would, among other things, allegedly submit false and fraudulent loan applications and documents to financial institutions relating to purchases of residential properties, resulting in lenders loaning out more money than they otherwise would.
“These false statements to the lenders included false names of the persons who would be borrowing the money to purchase the properties, falsely inflated sale prices that were much higher than the true prices and false details regarding the receipt and disbursement of funds in connection with the purchases of the properties.
“Odunna, who was a licensed attorney at the time, was also one of the directors of Direct Title and Escrow Services, Inc. (DTES). Odunna was the settlement agent in approximately 20 fraudulent closings of property purchases.
“To disguise the fraud, Odunna and his co-conspirators provided sellers and lenders with two different settlement statements, which included false information and omitted information regarding the sale price, the identity of the purchaser, and the receipt and the disbursement of funds,” the indictment reads in part.
According to the indictment, Karl Oreste, Marie Lucie Tondreau, and Kelly Augustin were among Odunna’s co-conspirators.
Oreste pleaded guilty and was sentenced to 100 months in prison. Tondreau, who was the former Mayor of North Miami, was convicted at trial. She was sentenced to 65 months in prison. Augustin remains a fugitive.
If convicted, Odunna faces up to 30 years in prison on the conspiracy to commit wire fraud affecting a financial institution charge.
Each count also carries the possibility of a fine and supervised release upon completion of any prison sentence.
A federal district court judge will determine any sentence after considering the US Sentencing Guide
lines and other statutory factors.
