Court Jails ‘Yahoo Boys’ Middleman For Money Laundering

Justice Akintayo Aluko of the Federal High Court in Lagos has convicted and sentenced a suspected middleman internet fraudster popularly known as a “Picker,” to four years’ imprisonment for money laundering and related offences.

The convict, Sunmonu Olasunkanmi, was jailed by Justice Aluko after pleading guilty to a three-count charge brought against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC accused the convict of possessing and laundering of illicit funds, as well as possession of documents with false pretences.

The anti-graft agency alleged that Olasunkanmi, sometime in 2026 in Lagos, while acting as a middleman, concealed the origin of $20,000 in his cryptocurrency wallet, which the prosecution said was part of unlawful proceeds.

The EFCC also had also claimed that the convict disguised the origin of N16 million in illicit gains by using the funds to acquire a black 2018 G-Wagon Jeep.

The commission further accused the convict of possessing documents with false pretences, which he allegedly knew to be false, with the intent to defraud.

The offences were said to breach provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Based on his guilty plea, the EFCC prosecutor, H. U. Kofarnaisa, reviewed the facts of the case and urged the court to convict and sentence the convict in accordance with the provision of the law under which he was charged.

However, the defence lawyer appealed for leniency, urging Justice Aluko to exercise mercy.

The lawyer also assured the court that his client is now remorseful and would not engage in crimes in the future.

In his judgment, Justice Aluko sentenced Olasunkanmi to four years’ imprisonment, with an option of a N1.8 million fine, after considering his plea and other mitigating circumstances.

The judge further ordered the forfeiture of the convict’s black G-Wagon Jeep, mobile device, and N9 million recovered from his bank account to the Federal Government.