Victims of a business email compromise scheme may be compensated after losing millions of dollars to fraud, U.S. Attorney Tessa M. Gorman announced. In December 2023, a company involved in real estate transactions reported that its systems had been compromised and scammers stole more than $1 million by submitting false wire transfer instructions.
The investigation revealed that at least ten other businesses or individuals were victimized, with amounts ranging from $75,000 to $425,000. The proceeds of the fraud were laundered through multiple bank accounts and then consolidated into a cryptocurrency wallet controlled by the Nigerian scammers.
Law enforcement quickly took action, seizing approximately 32.68 BTC from related cryptocurrency wallets, valued at around $900,000 at the time. The U.S. Attorney's Office subsequently filed a civil forfeiture lawsuit against the seized BTC, which has since more than doubled in value, making it possible for the ten victims who have filed claims to receive compensation. #SEC
