A Nigerian national described by US prosecutors as a “perpetual thief” and the mastermind of a sprawling nationwide bank-fraud network has been sentenced to 20 years in prison for orchestrating schemes that stole and laundered more than $2 million.

Forty-year-old Oluwaseun Adekoya, also known by aliases including “Ace G.,” “Legendary,” “Santa” and “Sammy LaBanco,” was sentenced on Monday in Albany, New York, following his conviction earlier this year on charges of bank fraud conspiracy, money-laundering conspiracy and nine counts of aggravated identity theft.

His conviction followed a three-week trial that detailed how he coordinated a sophisticated web of criminal activity from his luxury apartment in New Jersey.

According to evidence presented in court, Adekoya used publicly available records to identify individuals with high-value home-equity credit lines at credit unions across the United States.

He then acquired their Social Security numbers, account information and other personal data through encrypted messaging platforms, including Telegram.

This information was passed to a nationwide network of managers and operatives equipped with fake driver’s licences to impersonate victims and withdraw funds from their accounts.

Prosecutors said Adekoya insulated himself from detection by using multiple burner phones, encrypted communications and bank accounts opened in other people’s names to launder his share of the proceeds.

He also reinvested some of the stolen money into the criminal enterprise by purchasing travel tickets, forged documents and rental cars for accomplices.

Acting United States Attorney John Sarcone described Adekoya as a “flagrant serial offender” who had used the privilege of permanent residency "to steal the identities of innocent Americans so he could live lavishly … without an ounce of remorse.”

He added that the sentence ensured Adekoya “deserves every last day” of the two decades he will serve.

The investigation began in May 2022 after Broadview Federal Credit Union in Albany detected suspicious transactions and alerted the FBI. The inquiry exposed Adekoya as the ringleader of an operation that spanned several states and involved at least 13 other conspirators, all of whom pleaded guilty before his trial.

FBI agents arrested Adekoya in December 2023, recovering numerous burner phones, designer items, luxury watches, a 51,000-dollar engagement ring, and 26,000 dollars in a bank account linked to money laundering. These assets have since been forfeited.

US District Judge Mae D’Agostino, who handed down the sentence, noted Adekoya’s long history of identity theft and fraud offences stretching back to 2008.

In addition to his prison term, he must serve five years of supervised release, pay more than $2.2 million in restitution, and face removal from the United States after completing his sentence.

His co-conspirators received sentences ranging from time served to 11 years’ imprisonment. They included individuals from New York, Virginia, Wisconsin and Alabama who played roles in impersonation, logistics, money movement and document procurement.

The case involved extensive cooperation from FBI field offices across the United States and multiple state and local law enforcement agencies.

The US Attorney’s Office said the sentence brings an end to nearly two decades of criminal activity that exploited financial institutions and ordinary citizens across the country.