(S1) Superseding Indictment Filed as to Adedayo Ilori (1) count(s) 1s, 2s, 3s, 4s, 5s, 6s — USA v. Ilori et al. (Dkt. 44, S.D.N.Y.)

Record facts

U.S. District Court for the Southern District of New York · No. 1:21-cr-00746-MKV · Doc. 44 · 2022-06-22 · Docket on CourtListener

Full text

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 
UNITED STATES OF AMERICA 
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V . 
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ADEDAYO I LORI , 
Defendant . 
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COUNT ONE 
SUPERSEDING INDICTMENT 
Sl 21 Cr . 746 (MKV) 
(Major Fraud Against the United States) 
Overview 
The Grand Jury charges : 
1 . 
From at least in or about August 2020 through at least 
in or about October 2021 , 
ADEDAYO 
ILORI , 
the defendant , 
Chris 
Recamier , 
and others known and unknown engaged in a scheme to 
obtain and attempt to obtain Government , or Government - guaranteed , 
loans through loan programs of the United States Small Business 
Administration (the " SBA" ) designed to provide relief to small 
businesses during the novel coronavirus/COVID- 19 pandemic , namely 
the Paycheck Protection Program (the "PPP" ) and the Economic Injury 
Disaster Loan 
( " EIDL" ) 
Program . 
In applying for these loans , 
ILORI and Recamier fraudulently obtained more than $1 million in 
PPP and EIDL funds , 
and they attempted to obtain more than an 
additional approximately $9 million in PPP and EIDL funds . 
2 . 
In 
the 
course 
of 
the 
scheme , 
ADEDAYO 
ILORI , 
the 
defendant , 
and 
Chris 
Recamier 
sought 
loans 
for 
companies 
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purportedly controlled by I LORI and Recamier 
( the " Companies " ) . 
ILORI and Recamier submitted information representing that these 
Companies together had more than 230 employees and paid a total of 
approximately $3 . 2 million in wages to those employees on a monthly 
basis . 
In truth and in fact , ILORI and Recami er operated no such 
companies . 
In submissions to lenders , among other things , 
ILORI 
and Recamier used the stolen identities of unrelated third parties , 
and submitted false and f orged tax filings , in order to seek the 
fraudulent loans . 
3 . 
ADEDAYO ILORI , the defendant , and Chris Recamier used 
the proceeds from their fraud scheme toward among other things : 
(a) 
hundreds 
of 
thousands 
of 
dollars 
in 
cryptocurrency 
investments ; 
(b) 
hundreds of thousands of dollars in stocks ; 
(c) cash withdrawals ; 
and 
(d) 
personal expenses . 
ILORI 
and 
RECAMIER utilized the stolen identities of identity theft victims 
in order to establish the cryptocurrency and other investment 
accounts to which they directed fraud proceeds . 
Statutory Allegations 
4 . 
From at least in or about August 2020 through at least 
in or about October 2021 , in the Southern District of New York and 
elsewhere , 
ADEDAYO 
I LORI , 
the defendant , 
and others known and 
unknown , 
willfully and 
knowingly executed , 
and attempted to 
execute , 
a scheme and artifice with the intent to defraud the 
United States , and to obtain money and property by means of false 
2 
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and fraudulent pretenses , 
representations , 
and promises , 
in a 
grant , contract , subcontract , subsidy , loan , guarantee , insurance , 
and other form of Federal assistance , including through an economic 
stimulus , recovery and rescue plan provided by the Government , the 
value of which was $1 , 000 , 000 and more , to wit , ILORI engaged in 
a scheme to obtain , by means of false and fraudulent pretenses , 
representations , 
and 
documents , 
more 
than 
$10 
million 
in 
Government - guaranteed 
loans 
for 
the 
Companies , 
through 
loan 
programs of the SBA designed to provide relief to small businesses 
during the novel coronavirus/COVID- 19 pandemic , namely the PPP and 
the 
EIDL 
Programs , 
including while 
ILORI 
was 
released under 
condit i ons of bail imposed pursuant to Title 18 , United States 
Code , Chapter 207 . 
(Title 18 , United States Code , Sections 1031 , 2 , and 3147.) 
COUNT TWO 
(Conspiracy to Commit Wire and Bank Fraud) 
The Grand Jury further charges : 
5 . 
The allegations set forth in paragraphs 1 to 3 are 
repeated and realleged , and incorporated by reference as if fully 
set forth herein. 
6 . 
From at least in or about August 2020 through at least 
in or about October 2021 , in the Southern District of New York and 
elsewhere , 
ADEDAYO 
I LORI , 
the defendant , 
and others known and 
unknown , 
willfully 
and 
knowingly , 
combined , 
conspired , 
confederated , and agreed together and with each other to commit , 
3 
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including while ILORI was released under conditions of bail imposed 
pursuant to Title 18 , United States Code , Chapter 207 : 
(a) wire 
fraud , in violation of Title 18 , United States Code , Section 1343 ; 
and (b) bank fraud , in violation of Title 18 , United States Code , 
Section 1344 . 
7 . 
It was a part and an object of the conspiracy that 
ADEDAYO 
ILORI , 
the defendant , 
and others 
known 
and unknown , 
willfully and knowingly , having devised and intending to devise a 
scheme and artifice to defraud and for obtaining money and property 
by means of false and fraudulent pretenses , representations , and 
promises , would and did transmit and cause to be transmitted by 
means of wire , radio , and television communication in interstate 
and foreign commerce , 
writings , 
signs , 
signals , 
pictures , 
and 
sounds for the purpose of executing such scheme and artifice , in 
violation of Title 18 , United States Code , Section 1343 , to wit , 
ILORI , 
and others known and unknown , 
engaged in a 
scheme to 
fraudulently obtain Government - guaranteed loans for the Companies 
from the SBA and financial institutions through the PPP and EIDL 
Programs , 
by making false statements and submitting fraudulent 
documents in support of loan applications , 
including through 
electronic communications transmitted into and out of the Southern 
District of New York . 
8 . 
It was further a part and an object of the conspiracy 
that ADEDAYO ILORI , the defendant , and others known and unknown , 
4 
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willfully and knowingly , 
would and did execute and attempt to 
execute , a scheme and artifice to defraud a financial institution , 
the deposits of which were then insured by the Federal Deposit 
Insurance Corporation , 
and to obtain moneys , 
funds , 
credits , 
assets , securities , 
and other property owned by , 
and under the 
custody and control of , such financial institution , by means of 
false and fraudulent pretenses , representations , and promises , in 
violation of Title 18 , United States Code , Section 1344 , to wit , 
ILORI and others known and unknown , engaged in a scheme to obtain , 
by means of false and fraudulent pretenses , representations , and 
documents , Government - guaranteed loans for the Companies through 
the PPP and EIDL Programs from banks insured by the Federal Deposit 
Insurance Corporation (" FDIC") . 
(Title 18 , United States Code , Sections 1349 and 3147 . ) 
COUNT THREE 
(Wire Fraud) 
The Grand Jury further charges : 
9 . 
The allegations set forth in paragraphs 1 to 3 are 
repeated and realleged , and incorporated by reference as if fully 
set forth herein . 
10. 
From at least in or about August 2020 through at least 
in or about October 2021 , in the Southern District of New York and 
elsewhere , 
ADEDAYO 
ILORI , 
the 
defendant , 
having devised 
and 
intending to devise a scheme and artifice to defraud , 
and for 
obtaining money and property by means of false and fraudulent 
5 
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pretenses , representations , 
and promises , 
knowingly transmitted 
and caused to be transmitted by means 
of wire , 
radio , 
and 
television communication in interstate and foreign 
commerce , 
writings , signs , signals , pictures , and sounds , for the purpose of 
executing such scheme and artifice , which affected a financial 
institution , to wit , 
I LORI engaged in a scheme to fraudulently 
obtain Government - guaranteed loans for the Companies from the SBA 
and financial institutions through the PPP and EIDL Programs , by 
making false statements and submitting fraudulent documents in 
support 
of 
loan 
applications , 
including 
through 
electronic 
communications transmitted into and out of the Southern District 
of New York , including while ILORI was released under conditions 
of bail imposed pursuant to Title 18 , United States Code , Chapter 
207 . 
(Title 18 , United States Code , Sections 1343 , 2 , and 3147 . ) 
COUNT FOUR 
(Bank Fraud) 
The Grand Jury further charges : 
11 . 
The allegations set forth in paragraphs 1 to 3 are 
repeated and realleged , and incorporated by reference as if fully 
set forth herein . 
12 . 
From at least in or about August 2020 through at least 
in or about October 2021 , in the Southern District of New York and 
elsewhere , ADEDAYO ILORI , the defendant , willfully and knowingly 
executed , 
and attempted to execute , 
a 
scheme and artifice to 
6 
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defraud a financial institution , the deposits of which were insured 
by the 
FDIC , 
and to obtain moneys , 
funds , 
credits , 
assets , 
securities , and other property owned by, and under the custody and 
control of , 
such financial institution , 
by means of false and 
fraudulent pretenses , representations and promises , to wit , ILORI 
engaged in a scheme to obtain , by means of false and fraudulent 
pretenses , representations , and documents , Government - guaranteed 
loans for the Companies through the PPP and EIDL Programs from 
FDIC- insured banks , 
including while 
ILORI 
was released under 
conditions of bail imposed pursuant to Title 18 , United States 
Code , Chapter 207 . 
(Title 18 , United States Code , Sections 1344 , 2 , and 3147 . ) 
COUNT FIVE 
(Aggravated Identity Theft) 
The Grand Jury further charges: 
13 . 
The allegations set forth in paragraphs 1 to 3 are 
repeated and realleged , and incorporated by reference as if fully 
set forth herein . 
14 . 
From at least in or about August 2020 through at least 
in or about October 2021 , ADEDAYO ILORI , the defendant , knowingly 
did transfer , possess , and use , without lawful authority , a means 
of identification of another person , during and in relation to a 
felony violation enumerated in Title 18 , 
United States Code , 
Section 1028A(c) , to wit , ILORI used the names and identities of 
multiple 
real 
people 
in 
connection 
with 
the 
submission 
of 
7 
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fraudulent 
loan applications 
and supporting documentation to 
multiple financial institutions during and in relation to the fraud 
offenses charged in Counts One through Four of this Indictment , 
including while ILORI was released under conditions of bail imposed 
pursuant to Title 18 , United States Code , Chapter 207 . 
(Title 18 , United States Code , Sections 1028A(a) (1) , 
(b) 
& 
( c) ( 4 ) - ( 5) , 2 , and 314 7 . ) 
COUNT SIX 
(Conspiracy to Commit Money Laundering) 
The Grand Jury further charges : 
15 . 
The allegations set forth in paragraphs 1 to 3 are 
repeated and realleged , and incorporate by reference as if fully 
set forth herein . 
16 . 
From at least in or about August 2020 , through at least 
in or about October 2021 , ADEDAYO ILORI , the defendant , and others 
known 
and 
unknown , 
intentionally 
and 
knowingly 
combined , 
conspired , confederated and agreed together and with each other to 
commit money laundering , in violation of Title 18 , United States 
Code , Section 1956 (a) (1) (B) (i) , including while ILORI was released 
under conditions of bail imposed pursuant to Title 18, United 
States Code , Chapter 207 . 
1 7. 
It was a part and an object of the conspiracy that 
ADEDAYO ILORI , the defendant , and others known and unknown , knowing 
that the property involved in certain financial transactions 
represented the proceeds of some form of unlawful activity , would 
8 
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and did conduct and attempt to conduct such financial transactions , 
which in fact involved the proceeds of specified unlawful activity , 
to wit , the wire and bank fraud offenses charged in Counts and 
Three and Four of this Indictment , knowing that the transactions 
were designed in whole or in part to conceal and disguise the 
nature , the location , the source , the ownership , and the control 
of the proceeds of specified unlawful activity , in violation of 
Title 18 , United States Code , Section 1956(a) (1) (B) (i ) . 
(Title 18 , United States Code , Sections 1956(h) and 3147.) 
FORFEITURE ALLEGATIONS 
18. 
As the result o f committing the offenses charged in 
Counts Two through Four of this Indictment, ADEDAYO ILORI , the 
defendant , shall forfeit to the United States , pursuant to Title 
18 , United States Code , Section 982(a) (2) (A) , any and all 
property constituting , or derived from , proceeds obtained 
directly or indirectly , as a result of the commission of said 
offenses , including but not limited to a sum of money in United 
States currency representing the amount of proceeds traceable to 
the commission of said offenses and the following specific 
property : 
a . 
The Coinbase Account associated with User ID 
5ff910782e96e80ef6f7c88c (the "Coinbase Account") ; 
b. 
The Robinhood Markets Inc. account 698867512 (the 
"Robinhood Account " ) ; and 
9 
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c . 
the Charles Schwab One account 8743 - 4844 (the 
"Schwab Account") . 
19 . 
As a result of committing the offense alleged in Count 
Six of this Indictment , ADEDAYO ILORI , the defendant , shall forfeit 
to the United States , pursuant to Title 18 , United States Code , 
Section 982(a) (1) , 
any and all property , 
real and personal , 
involved in said offense , 
or any property traceable to such 
property , including but not limited to a sum of money in United 
States currency representing the amount of property involved in 
said offense and the following specific property : 
a. 
The Coinbase Account ; 
b . 
The Robinhood Account ; and 
C. 
The Schwab Account . 
Substitute Assets Provision 
20 . 
If any of the above - described forfeitable property , as 
a result of any act or omission of the defendant : 
a . 
cannot 
be 
located 
upon 
the 
exercise 
of 
due 
diligence ; 
b. 
has been transferred or sold to , or deposited with , 
a third person ; 
c . 
has been placed beyond the jurisdiction of the 
Court ; 
d . 
has been substantially diminished in value ; or 
e. 
has 
been 
commingled with other property which 
cannot be subdivided without difficulty ; 
10 
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it is the intent of the United States , pursuant to Title 21 , United 
States Code , Section 853 (p) , 
and Title 28 , United States Code , 
Section 2461 , to seek forfeiture of any other property of the 
defendant up to the value of the forfeitable property described 
above . 
(Title 18 , United States Code , Section 982 ; 
Title 21 , United States Code , Section 853 ; and 
Title 28 , United States Code , Section 2461 . ) 
FOREPERSON 
DAMIAN WILLIAMS 
United States Attorney 
11 
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UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 
UNITED STATES OF AMERICA 
v. 
ADEDAYO ILORI, 
Defendant. 
SUPERSEDING INDICTMENT 
Sl 21 Cr. 746 (MKV) 
(18 U. S.C. §§ 2 , 1028A, 1031 , 1343 , 1344 , 
1349 , 1956 , and 3147 . ) 
DAMIAN WILLIAMS 
United States Attorney 
Foreperson 
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Case 1:21-cr-00746-MKV   Document 44   Filed 06/22/22   Page 12 of 12

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