In a US court, a British-Nigerian individual has acknowledged guilt in perpetrating a scheme that involved defrauding and embezzling over $6 million (£4.7 million) during a span of seven years.
Idris Dayo Mustapha, aged 33, was a member of a cybercriminal group that infiltrated the email and brokerage accounts of US companies between 2011 and 2018, resulting in substantial losses, as stated by officials.
Being a citizen of both the UK and Nigeria, Mustapha was extradited from the UK this August, following his arrest two years prior.
His offenses potentially carry a maximum imprisonment term of 20 years. However, the sentencing has not yet been determined.
Mustapha entered a guilty plea at a court in Brooklyn, New York, on Tuesday, confessing to four charges: computer intrusion, securities fraud, wire fraud, and access device fraud.
According to authorities, Mustapha and his cohort hacked into the computer servers of American financial institutions, gaining access to sensitive user data, including personal identifying information.
Utilizing the stolen information and passwords, they orchestrated wire transfers and diverted securities from victims’ accounts to their own control. Additionally, they manipulated the hacked accounts for stock trades without the account holders’ awareness.
US authorities had been pursuing Mustapha for an extended period before his extradition.
