Nigerian Man Extradited To U.S. For $8 Million Mortgage Fraud Scheme

A 60-year-old Nigerian man identified as Okechukwu Josiah Odunna has appeared in a federal court in Miami on charges related to a mortgage fraud scheme that caused an estimated $8 million loss to U.S. financial institutions.

Odunna, a former attorney, was arrested in Nigeria on Sept. 24, 2024, following a U.S. extradition request. After waiving extradition, he was transferred to Florida on March 6, 2025. He faces charges of wire fra¥d and conspiracy to commit wire fraud affecting a financial institution. His pretrial detention and arraignment hearings are scheduled for March 11 before U.S.

Magistrate Judge Jonathan Goodman.
According to the indictment, from December 2005 to May 2008, Odunna and his co-conspirators defrauded U.S. banks by submitting false loan applications and inflating property sale prices to secure excessive loans.

Odunna, then a director at Direct Title and Escrow Services, Inc. (DTES), allegedly oversaw about 20 fraudulent property closings, providing false settlement statements to sellers and lenders.

Several co-conspirators have already faced justice. Karl Oreste pleaded guilty and was sentenced to 100 months in prison, while Marie Lucie Tondreau, a former North Miami mayor, was convicted and sentenced to 65 months. Another co-conspirator, Kelly Augustin, remains a fugitive.

If convicted, Odunna faces up to 30 years in prison for each fraud charge, along with potential fines and supervised release. The case is being prosecuted by Assistant U.S. Attorney Ana Maria Martinez, with asset forfeiture handled by Assistant U.S. Attorney Daren Grove.

The FBI Miami Field Office and the Florida Office of Financial Regulation led the investigation, with support from the U.S. Justice Department’s Office of International Affairs and Nigerian authorities.

An indictment is not a conviction, and Odunna is presumed innocent until proven guilty in court.

Source: Instablog

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