US Government Jails Ping Express CEO and COO Over $160 Million Money Laundering Portable #BBNaijaSeason7 Bovi #Ashawo BAT and ATIKU #Cuppy #MassShooting Oyo State Nurudeen #arisetv Obaseki #RHOA Kemi Nelson Ogbeni Favour #Bitcoin

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The Department of Justice of the United States has sentenced two Nigerian officials of Ping Express, a Texas-based remittance corporation with ties to the United Kingdom (UK), to prison.


The pair pled guilty to money laundering in the United States (US) after moving over $160 million to Nigeria in suspicious activities over a three-year period.


According to a statement issued by the US Department of Justice (DOJ), the fintech company agreed that it did not have enough information about the sources or purposes of the monies involved in the transactions or the consumers initiating the transfers.


Anslem Oshionebo, CEO of Ping Express, and Opeyemi Odeyale, COO of the company, were both sentenced to 27 months in prison for their role, according to US authorities. According to the DOJ statement, three individuals – including two of Ping Express’s top customers – previously pleaded guilty to transmitting illegally-derived funds through the company.

“Collins Orogun admitted last week that he accepted a fee in exchange for transferring money for ‘romance scam’ fraudsters and other criminals.

“In one instance, an Indiana woman sent $15,000 to ‘Carson Jacks’, a purported oil roughneck in the Gulf of Mexico she fell in love with online, after he told her he’d contracted malaria. In another, a second Indiana woman sent $6,300 to ‘Thomas Ken,” a purported Irish ship captain she fell in love with online, to fix his ship.

“In two years, Orogun received more than $1.3 million in cash, cashier’s checks, and wires into several US bank accounts he controlled and then quickly moved more than $1 million of the funds to Africa through Ping Express.

“He faces up to 20 years in federal prison and is set to be sentenced on Jan. 23, 2023,” the statement said.

Ping Express was licensed to transmit money but was not licensed to conduct currency exchange and charged US customers a fee to remit money to beneficiaries in Nigeria and other African nations.

Ping Express now faces five years of probation and a fine of up to $500,000

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