Two Yahoo Boys, Akinade Raheem and Abayomi Eletu, have been charged with a stolen-identity tax refund fraud scheme that sought over $100 million from the U.S. Internal Revenue Service.
Mr Eletu, who was based in the UK, was extradited to face trial in the U.S. over his involvement in the fraud in which stolen identities were used to electronically file tax returns claiming fraudulent refunds, a statement by the U.S. Department of Justice on Wednesday said.
According to the indictment, Mr Raheem, 43, of Atlanta, Georgia, and Mr Eletu, 42, of the United Kingdom and Nigeria, conspired together and with others to claim fraudulent tax refunds using the stolen identities of accountants and taxpayers.
The indictment alleged that Messrs Raheem and Eletu filed more than 300 false tax returns, claiming over $100 million in refunds from the IRS.
According to the U.S. Department of Justice, the defendants face maximum penalties of 20 years in prison for conspiracy to commit mail and wire fraud, 20 years for money laundering, and 10 years for access device fraud, as well as a mandatory sentence of two years for aggravated identity theft.
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