The Georgia Bureau of Investigation (GBI) has arrested Bobby G. Umogbai, a Nigerian based in the United States, for his role in a $1 million cyber fraud.

According to gbi.georgia.gov, the 24-year-old was arrested after an eight-month investigation conducted by the bureau’s cyber crime centre.

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The Nigerian was alleged to be a part of a syndicate that specialises in Business Email Compromise (BEC). Through the scheme, victims are tricked with compromised email accounts. They are convinced to send money to bank accounts controlled by the conspirators, with a belief that they are making legitimate payments.

The holders of these accounts, who are also part of the fraud, then forward the funds they have received to other accounts controlled by conspirators operating outside the United States.

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Umogbai was arrested on February 8 and accused of targeting and defrauding a Georgia-based company of $1 million. He has been charged with theft by deception and theft by taking, two felony charges.

Investigations carried out by the bureau revealed that after a victim was instructed to wire money into a staged bank account, the money passed through a bank account under Umogbai’s control before reaching other syndicate members.

Victims of the syndicate have been identified and contacted by the GBI. No trial date has been set yet.