A Nigerian legal practitioner, Okechukwu Josiah Odunna, has appeared before a Federal Court in Miami, Florida, where he is accused of orchestrating a large-scale fraud scheme that led to approximately $8 million in losses for U.S. financial institutions.
The U.S. Department of Justice announced on Friday, March 7, 2025, that Odunna, 60, was extradited from Nigeria on March 6 after waiving his right to contest the extradition request. He had been arrested by Nigerian authorities on September 24, 2024.
Odunna faces multiple charges, including conspiracy to commit wire fraud and wire fraud affecting a financial institution, offenses that carry a maximum sentence of 30 years each if convicted. His pretrial detention and arraignment hearings are scheduled for March 11 before U.S. Magistrate Judge Jonathan Goodman.
According to the indictment, between December 2005 and May 2008, Odunna and his co-conspirators engaged in a fraudulent scheme involving the purchase of approximately 20 residential properties in Florida. The group allegedly submitted falsified loan applications and documents to U.S. financial institutions, inflating sale prices and misrepresenting the identities of borrowers to secure larger loans.
Odunna, who was a licensed attorney and a director of Direct Title and Escrow Services, Inc. (DTES) at the time, acted as the settlement agent for the fraudulent property transactions. Prosecutors allege that he and his co-conspirators used deceptive financial statements to manipulate lenders and misrepresent the receipt and disbursement of funds.
Several of Odunna’s associates have already faced legal consequences:
- Karl Oreste pleaded guilty and was sentenced to 100 months in prison.
- Marie Lucie Tondreau, a former Mayor of North Miami, was convicted at trial and sentenced to 65 months in prison.
- Kelly Augustin remains a fugitive.
If convicted, Odunna faces up to 60 years in prison, fines, and supervised release after serving his sentence. A federal district court judge will determine his final sentence based on U.S. Sentencing Guidelines.
The case was investigated by the FBI Miami Field Office and the Florida Office of Financial Regulation. The U.S. Justice Department’s Office of International Affairs played a key role in securing Odunna’s arrest and extradition.
The United States also acknowledged the support of Nigerian authorities, including the Ministry of Justice, Central Authority Unit, the Economic and Financial Crimes Commission (EFCC), and the FBI’s Legal Attaché Office in Abuja.
Odunna previously served as a Deputy Director, Legal at the National Lottery Regulatory Commission in Abuja for six years before his arrest.
