Miami, FL – March 7, 2025 – Okechukwu Josiah Odunna, a 60-year-old resident of Abuja, Nigeria, appeared in a Miami federal court after being extradited to the United States for his alleged role in a mortgage fraud scheme. This scheme is said to have involved the fraudulent purchase of about 20 residential properties in Florida, leading to an estimated loss of $8 million for U.S. financial institutions.
Odunna faces serious charges, including wire fraud and conspiracy to commit wire fraud. He was arrested by Nigerian authorities on September 24, 2024, following a U.S. extradition request. After waiving his right to contest the extradition, he was brought to the Southern District of Florida on March 6, 2025. He has been in custody since his arrest and is set to appear in court again on March 11 for pretrial detention and arraignment.
The indictment states that from December 2005 to May 2008, Odunna and his accomplices deceived U.S. banks by submitting false loan applications and documents. They misrepresented crucial information, such as the identities of borrowers and the true sale prices of properties. As a licensed attorney and director of Direct Title and Escrow Services, Inc. (DTES), Odunna was involved in closing these fraudulent transactions, where he used different settlement statements to hide the fraud.
Several of Odunna’s co-conspirators have already faced justice. Karl Oreste has pleaded guilty and received a 100-month prison sentence, while former North Miami Mayor Marie Lucie Tondreau was convicted and sentenced to 65 months in prison. Another accomplice, Kelly Augustin, is still on the run.
If convicted, Odunna could face up to 30 years in prison for each charge, along with potential fines and supervised release after serving time. A federal judge will determine his sentence based on various factors, including the U.S. Sentencing Guidelines.
U.S. Attorney Hayden P. O’Byrne, FBI Miami Special Agent in Charge Brett Skiles, and Florida Office of Financial Regulation Commissioner Russell C. Weigel, III, announced the case. The investigation was a joint effort involving the FBI Miami, the Office of Financial Regulation, and the Justice Department’s Office of International Affairs, along with assistance from Nigerian authorities.
It’s important to note that an indictment is merely an allegation, and all defendants are presumed innocent until proven guilty in a court of law.
For more information, visit the District Court for the Southern District of Florida’s website at www.flsd.uscourts.gov or access court documents at http://pacer.flsd.uscourts.gov under case number 14-cr-20349.
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