“Abraham Adeniyi used a web of bank accounts to funnel millions of dollars stolen from fraud victims into his own pockets…”
Leader Of Money Laundering Operation Sentenced To Three Years In Prison
Friday, July 28, 2023
U.S. Attorney’s Office, Southern District of New York
Damian Williams, the United States Attorney for the Southern District of New York, announced today that ABRAHAM ADENIYI was sentenced today by U.S. District Judge Edgardo Ramos to three years in prison for operating a money laundering scheme that laundered nearly $8 million of wire fraud proceeds. ADENIYI previously pled guilty to conspiracy to commit money laundering.
U.S. Attorney Damian Williams said: “Abraham Adeniyi used a web of bank accounts to funnel millions of dollars stolen from fraud victims into his own pockets and the pockets of the fraudsters. He now faces prison time and is required to forfeit his ill-gotten gains.”
According to the allegations in the Indictment filed against ADENIYI and other court proceedings:
From at least in or about 2017 through at least in or about 2020, ADENIYI opened and directed others to open multiple bank accounts, which received proceeds of various wire fraud schemes. ADENIYI provided his accomplices with fraudulent identification information to open those bank accounts. Upon arrival of the fraudulent proceeds, ADENIYI transferred and directed others to transfer those proceeds rapidly among the various bank accounts controlled by participants in the scheme in order to conceal and disguise the source, location, ownership, and control of the funds. Ultimately, after moving through multiple bank accounts, the funds were withdrawn as cash, transmitted overseas, or used for ADENIYI’s personal expenses. This rapid transfer of funds prevented the banks and the victims from recovering the funds once the underlying frauds were detected. During the course of the scheme, ADENIYI laundered at least nearly $8 million dollars of fraud proceeds.
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In addition to his prison term, ADENIYI, 40, of Atlanta, Georgia, was ordered to forfeit and pay restitution in the amount of $7,814,294.56.
Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation.
This case is being handled by the Office’s Money Laundering and Transnational Criminal Enterprises Unit. Assistant U.S. Attorney Anden Chow is in charge of the prosecution.
Testosterone Replacement Therapy TRT: What It Is
### Testosterone Replacement Therapy (TRT)
Testosterone Replacement Therapy (TRT) is a treatment method designed to aid individuals with low testosterone levels,
aiming to restore normal function and health. TRT involves supplementing the
body with testosterone or its derivatives to mitigate symptoms of hypogonadism.
### What is Testosterone Replacement Therapy?
TRT refers to the administration of testosterone or related hormones to individuals who
have low testosterone levels. This therapy helps in managing conditions like hypogonadism, which can cause various physical
and emotional symptoms.
### Who is TRT For?
TRT is primarily intended for individuals diagnosed with hypogonadism, where
the body doesn’t produce sufficient testosterone. Men, especially those aged 30-60, are commonly
eligible if they exhibit symptoms such as fatigue,
muscle loss, or low libido. Women with similar conditions may also benefit, though TRT
use in females is less common and carries more risks.
### Procedure Details
#### What Happens Before Starting TRT?
Before beginning TRT, a healthcare provider will conduct blood tests to measure testosterone levels.
A personalized treatment plan is then developed,
including dosage determination and monitoring frequency.
#### How Does TRT Work?
TRT works by supplementing the body’s insufficient testosterone production,
thereby alleviating symptoms of hypogonadism. It can be administered as
injections, patches, or oral supplements.
### Benefits of TRT
TRT offers several benefits, including improved energy
levels, enhanced muscle mass, better bone density, and restored libido.
It also addresses emotional symptoms like depression and anxiety
related to low testosterone.
### Side Effects of TRT
Potential side effects include acne, hair loss, mood swings, and cardiovascular issues.
Long-term use may lead to testicular atrophy or addiction-like behaviors, emphasizing the need for cautious monitoring and medical supervision.
### Risks/Benefits
While TRT provides significant benefits for many,
it also poses risks such as cardiovascular complications and potential misuse.
The decision to undergo TRT should be made after thorough consultation with a healthcare provider.
### How Long Does It Take to See Results?
Results vary, but many notice improvements within weeks.
However, full benefits may take several months, especially in cases
of severe testosterone deficiency.
### How Long Can You Stay on Testosterone Replacement Therapy?
TRT is typically prescribed for 6-12 months, though some may continue under close supervision.
Prolonged use requires ongoing assessment to avoid adverse effects.
### Once You Start TRT, Can You Stop?
Yes, but abruptly stopping can lead to hormonal imbalances.
Tapering off the medication under medical guidance is advisable.
### When Should I See My Healthcare Provider About TRT?
Consultation with a healthcare provider is essential before starting TRT to ensure it’s
both necessary and safe. TRT isn’t a cure for
all conditions, so professional advice is crucial.
### Additional Common Questions
#### Who Shouldn’t Use TRT?
Individuals without low testosterone levels, such as younger men and
women without hypogonadism, shouldn’t use TRT without medical justification.
#### Is TRT Safe?
TRT’s safety depends on proper administration and supervision. While it can be effective, potential risks necessitate strict monitoring and medical guidance.
### A Note from Cleveland Clinic
Cleveland Clinic emphasizes that TRT should only be used under medical
supervision to ensure patient safety and effectiveness.
### References
– National Institute for Health and Care Excellence (NICE Guidelines)
– Endocrine Society clinical guidelines
– American College of Rheumatology
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