Scammer robs homebuyers of life savings in $20 million theft spree

A coordinated Business Email Compromise (BEC) scheme led by Babatunde Francis Ayeni and accomplices targeted US title companies, real estate agents, and attorneys via phishing and fake login pages to capture credentials, monitor emails, and alter wiring instructions. The operation defrauded over 400 would-be homebuyers, resulted in nearly $20 million in losses (with 231 victims unable to reverse wires), and laundered proceeds through Bitcoin; the principal was sentenced to ten years in federal prison.