A Georgia man was arrested last week and charged with money laundering in a scheme to defraud a Bergen County business of nearly $1 million, authorities said.
Olanrewaju B. Adeosun, 39, was arrested in Queens, New York, on Nov. 9 and charged with first-degree money laundering, according to Bergen County Prosecutor Mark Musella.
Musella said police in Palisades Park first contacted the prosecutor’s office in July 2024 to report a fraudulent money wire that resulted in a loss of $982,148.28 to a local business.
An investigation lasting more than a year revealed the stolen money was “moved across multiple financial accounts and into multiple cryptocurrency exchanges,” Musella said in a statement.
“Detectives determined (Adeosun) used a fictitious cryptocurrency account to distribute the stolen proceeds as digital assets and transfer them to various financial accounts in his control,” Musella said.
“The funds were then withdrawn and used for his personal benefit,” the prosecutor added.
Adeosun remained in the custody of law enforcement in New York on Monday, pending extradition to Bergen County. Attorney information for Adeosun was not immediately available.
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