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A Massachusetts man has pleaded guilty to using 40 banks accounts to carry out a $4 million romance scam.

Kofi Osei, 30, pleaded guilty last week in Boston federal court to seven counts of making a false statement to a bank, six counts of wire fraud and two counts of money laundering, according to a statement from the U.S. attorney’s office. Osei had been charged in February 2021.

According to the U.S. attorney’s statement, Osei opened bank accounts between approximately 2016 through 2020 in the Greater Boston area using fake identity documents. Prosecutors say the bank accounts received fraudulently obtained funds from a number of victims of romance scams. Romance scams involve gaining a victim’s trust online and then using the romantic or close relationship to manipulate or steal from the victim.

When the funds reached the accounts that Osei controlled, he generally withdrew the money in cash, used the funds to purchase cashier’s checks, or spent the money on personal purchases, the statement said.

During a search of Osei’s residence and vehicle in February 2021, additional fake identity documents in the names of other aliases were recovered.

Osei opened more than 40 bank accounts using seven aliases, the statement said. The accounts received more than $4 million from victims.

Sentencing has been scheduled for Jan. 20.

Mass. Man Used 40 Bank Accounts in Romance Scam

by Banker & Tradesman time to read: 1 min
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