Ghanaian national pleads guilty in $100 million romance scam and BEC fraud ring

As reported by Bleeping Computer, a Ghanaian national has pleaded guilty to his involvement in a vast fraud operation that defrauded victims across the United States of over $100 million. The scheme utilized a combination of business email compromise (BEC) attacks and sophisticated romance scams.

Derrick Van Yeboah, 40, admitted his role in the conspiracy to commit wire fraud on Thursday and agreed to pay more than $10 million in restitution. The operation, based in Ghana, targeted Americans between 2016 and May 2023. Scammers, referring to themselves as "game boys," deceived individuals, particularly older adults, into believing they were in online romantic relationships.

Victims were persuaded to deposit money into U.S.-based accounts managed by intermediaries who would then launder the funds and send the remainder to the ringleaders in West Africa. The group also executed BEC attacks, impersonating customers or employees to trick businesses into wiring funds.

Source: Bleeping Computer