A pair of fraudsters based in London have faced the long arm of the law for their role in a convoluted romance scam, leading to victims losing a staggering £674,000. The deceit impacted individuals of various genders residing in different parts of the world. Notably, a woman hailing from Switzerland fell prey to their scam, resulting in a loss of more than £612,000 to these evil criminals.
The duo exploited a counterfeit passport to manipulate their Swiss victim, convincing her that she was involved with a UK-based doctor and biologist. Per their elaborate plot, this fictitious character sought a loan to manufacture ventilators amidst the pandemic. The fraudsters added a twist, declaring that he was detained abroad, and forced the woman to financially aid him. The money she provided was transferred to accounts in the UK and the US.
Investigation Results and Charges: The Full Picture
In the wake of the culprits’ apprehension, the Economic Crime Unit officers reached out to the Swiss victim, informing her about the broader scope of this romance scam. The offenders, identified as James Olagbaiye, 47, and Adesola Adebayo, 38, both residents of Barking Road, London, were apprehended in October 2020. Evidence surfaced during the probe, including mobile phones and bank statements, implicating Adebayo in additional fraud offences. He had fraudulently sought £98,000 in Covid-19 Bounce Back Loans during the height of the pandemic.
Both accused confessed to their crimes and received their sentences on October 7, 2022. The court sentenced Olagbaiye to four years and four months for conspiracy to launder money, while Adebayo received a heavier sentence of four years and six months for numerous other crimes.
Romance Fraud on The Rise
Last year witnessed an alarming rise of over 30% in victims ensnared by romance scams, as reported by multiple sources. The increasing prevalence of social media and dating applications, unfortunately, has become a favorable hunting ground for online fraudsters, largely contributing to the surge in these scams. They ingeniously construct fake profiles, armed with deceitful information and counterfeit images, to lure unsuspecting victims.
On the financial front, the typical loss per victim stood at £8,234, marking a slight decrease from the preceding year, which recorded an average loss of £8,655. An intriguing trend observed last year was that men marginally outnumbered women in falling prey to these online scams, representing approximately 53% of all cases. This marks a substantial increase from the statistics in 2021 when men constituted a mere 39% of such cases.
Observers noted that those aged between 65 and 74 years are most susceptible to romance scams. The frequency of cases within this age bracket escalated by an astounding 75% year-on-year. On average, each victim within this age group suffered a loss exceeding £12,000 from these fraudsters, who convincingly portrayed themselves as romantic partners.
The Emotional Burden of Romance Scams and The Importance of Support
Victims of romance fraud endure a deep sense of betrayal, often losing faith in others. The emotional ramifications can be severe, reducing well-being and physical ailments, including insomnia, headaches, and digestive disturbances. The realisation that someone they considered genuine and caring has manipulated them can crush victims, often leading to disillusionment.
Victims of such frauds should seek support instead of suffering in silence. Several organisations, including the police, Action Fraud, and various victim support charities, provide guidance and assistance. Reporting the fraud to the authorities and sharing their experiences to raise awareness can deter further victimisation. By voicing their experiences, victims can help break the vicious cycle of romance fraud. This can help prevent others from enduring similar emotional and financial distress.
Reporting Fraud: A Key Step in Protecting Potential Victims
Victims of romance fraud should never feel shame or embarrassment. Fraudsters, as skilled professionals, adeptly manipulate to gain trust and convince victims of a real relationship. The grim reality is that these perpetrators exploit the emotions of their victims to steal money.
If you suspect that you are a victim of a romance scam, please report it to the appropriate authorities. In the UK, you can report fraud to Action Fraud or your local police department. Remember that reporting fraud can help protect others from falling victim to it.
