US man of Nigerian descent Victor Kolawole, accomplice plead guilty in multi-million-dollar U.S. bank fraud scheme

Crime Diary, International, North America

BOSTON, United States (NPA) — Two Massachusetts men have pleaded guilty in federal court in Boston to their roles in a multi‑million‑dollar scheme to defraud banks across Massachusetts, Connecticut, and Rhode Island.

Victor Kolawole, 26, of Brockton, and Keith Wainaina, 24, of Lowell, admitted to conspiracy to commit bank fraud, bank fraud, and conspiracy to commit money laundering. U.S. District Court Judge Julie E. Kobick scheduled sentencing for July 23, 2026 and September 9, 2026, respectively. The pair were arrested in July 2025 alongside four others.

Prosecutors said that beginning no later than December 2022, Kolawole and Wainaina conspired with Phalentz Vernot and others to steal customer data from local banks, including names, dates of birth, Social Security numbers, and account details. Imposters were recruited to pose as customers using fake identification documents, withdrawing large sums in cashier’s checks.

Wainaina and Kolawole then deposited the checks into accounts they controlled, later purchasing additional cashier’s checks payable to Vernot. Vernot used part of the proceeds to pay imposters and bank insiders who helped bypass verification protocols.

According to court filings, Wainaina deposited or attempted to deposit more than $762,000, while Kolawole deposited approximately $373,000 in cashier’s checks drawn on victims’ accounts. Vernot pleaded guilty in December 2025 and is scheduled for sentencing on July 22, 2026.

The charges carry severe penalties: up to 30 years in prison for bank fraud and conspiracy to commit bank fraud, up to 20 years for conspiracy to commit money laundering, and a mandatory two‑year consecutive sentence for aggravated identity theft. Sentences will be determined by the court under federal guidelines.