Bergen County Business Lost $1M In Cryptocurrency Scheme: Prosecutor

BERGEN COUNTY, NJ — A Bergen County business lost nearly $1 million in a Georgia man's cryptocurrency scheme, prosecutors said Monday.

Olanrewaju B. Adeosun, 39, of Dunwoody, Ga., was found and arrested last week by the Bergen County Prosecutor's Office with the assistance of Homeland Security, U.S. Customs, and the Port Authority Police Department, prosecutors said Monday.

According to Bergen County prosecutors, in July 2024, the Palisades Park Police Department contacted the county prosecutor's Financial Crimes Unit regarding a fraudulent money wire that resulted in a $982,148 loss to an area business.

A 15-month investigation by the Financial Crimes Unit determined that the stolen money was moved among various financial accounts and into cryptocurrency exchanges, prosecutors said.

Adeosun "used a fictitious cryptocurrency account to distribute the stolen proceeds as digital assets and transfer them to various financial accounts in his control," prosecutors said. "The funds were then withdrawn and used for his personal benefit."

On Monday, detectives found him in Queens, N.Y.

Adeosun was arrested and charged with first-degree money laundering, prosecutors said.

He remains in the custody of New York authorities, awaiting extradition to Bergen County, prosecutors said.