Miami Man Sentenced to 41 Months in Federal Prison for Operating an Illegal Money Transmitting Business
2024-06-10 · Press release
Summary: United States Attorney Ronald C. Gathe, Jr. announced that Chief Judge Shelly D. Dick sentenced Oluwafemi Osinowo, age 35, of Miami, Florida, to 41 months in federal prison following his conviction for operating an illegal money transmitting business.
United States Attorney Ronald C. Gathe, Jr. announced that Chief Judge Shelly D. Dick sentenced Oluwafemi Osinowo, age 35, of Miami, Florida, to 41 months in federal prison following his conviction for operating an illegal money transmitting business. The Court further sentenced Osinowo to three years of supervised release following his term of imprisonment.
According to admissions made as part of his guilty plea, from December 2016 to January 2019, Osinowo operated an unlicensed money transmitting business. He confessed that the business conducted foreign currency exchange business without complying with required federal registration requirements. During the course of operating the business, money was transmitted from third parties from the Middle District of Louisiana and elsewhere to bank accounts located in Miami, Florida. Once the money was in the bank accounts in Miami, Florida, an individual acting as an agent of Osinowo’s business wired the money to a bank in Lagos, Nigeria. Those wire transfers included approximately 51 separate transmissions in the aggregate total of approximately $722,177 dollars.
This case was investigated by the Federal Bureau of Investigation and was prosecuted by Assistant United States Attorney Jeremy S. Johnson.
- district_office
- usa_name
- Ronald C. Gathe, Jr.
- event_type
- sentencing
- judge_name
- Shelly D. Dick
- judge_title
- Chief Judge
- case_number
- max_penalty_text
- sentence_summary
- 41 months in federal prison and three years of supervised release
- money_amounts
- $722,177
- crypto_assets
- statutes_json
- timeline_json
- {}
- press_release_url
- https://www.justice.gov/usao-mdla/pr/miami-man-sentenced-41-months-federal-prison-operating-illegal-money-transmitting
- extras_json
| participant_id | name | role | title | organization | location | age | nationality | status |
|---|---|---|---|---|---|---|---|---|
| 1165 | Ronald C. Gathe, Jr. | prosecutor | United States Attorney | U.S. Attorney's Office | Miami, Florida | |||
| 1166 | Shelly D. Dick | judge | Chief Judge | Court | Miami, Florida | |||
| 1167 | Oluwafemi Osinowo | defendant | Miami, Florida | 35 | sentenced | |||
| 1168 | Jeremy S. Johnson | prosecutor | Assistant United States Attorney | U.S. Attorney's Office | Miami, Florida |
| agency_id | agency_name | abbreviation | role | office_location | agents_mentioned | contribution |
|---|---|---|---|---|---|---|
| 764 | Federal Bureau of Investigation | FBI | investigation | Investigated the case |
| charge_id | charge_description | statute | severity | max_penalty | fine_amount | defendant | status | participant_id | cl_docket_id | count_num | is_1960 | verified_1960 | source | updated_at |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 572 | operating an unlicensed money transmitting business | Oluwafemi Osinowo | convicted | 1 | enrichment | 2026-09-16T19:45:55+00:00 | ||||||||
| 2539 | operated an unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:55+00:00 | ||||||||||
| 2540 | unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:55+00:00 |
| fin_id | action_type | amount | currency | description | asset_type | defendant | status |
|---|---|---|---|---|---|---|---|
| 161 |
| victim_id | victim_type | description | number_affected | loss_amount | geographic_scope | vulnerability_factors | impact_description |
|---|---|---|---|---|---|---|---|
| 227 |
| quote_id | quote_text | speaker_name | speaker_title | speaker_organization | quote_type | context | significance |
|---|---|---|---|---|---|---|---|
| 99 | Chief Judge Shelly D. Dick sentenced Oluwafemi Osinowo, age 35, of Miami, Florida, to 41 months in federal prison following his conviction for operating an illegal money transmitting business. | Ronald C. Gathe, Jr. | United States Attorney | U.S. Department of Justice | statement | Announcement of sentencing in press release | Official announcement of defendant's prison sentence by the prosecuting attorney |
| theme_id | theme_name | description | significance | related_statutes | geographic_scope | temporal_aspects | stakeholders |
|---|---|---|---|---|---|---|---|
| 648 | Illegal Money Transmitting Business | Osinowo operated an unlicensed money transmitting business from December 2016 to January 2019, conducting foreign currency exchanges without federal registration. Money was transmitted from the Middle District of Louisiana and elsewhere to Miami, Florida, then wired to Lagos, Nigeria, totaling $722,177 across 51 transfers. | Central to the charges and conviction, leading to a 41-month federal prison sentence. | 18 U.S.C. § 1960 | International | From December 2016 to January 2019 | Law enforcement, Financial institutions, Defendant |
| 649 | Unlicensed Business Operations | The business operated without complying with federal registration requirements for money transmitting businesses. | Key violation that formed the basis of the charges against Osinowo. | 18 U.S.C. § 1960 | National | From December 2016 to January 2019 | Law enforcement, Federal regulatory agencies, Defendant |
| 650 | International Money Transfers | Funds were transmitted from the United States to Lagos, Nigeria, involving cross-border financial transactions. | Highlights the international scope of the illegal activities. | International | From December 2016 to January 2019 | Law enforcement, Financial institutions, Defendant |
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