A Union County man today admitted his role in a conspiracy to hijack the credit card accounts of multiple victims in order to fraudulently purchase hundreds of thousands of dollars in high-end products, U.S. Attorney Craig Carpenito announced.
Officials say Oluwaseun Jato, 29, of Hillside, New Jersey, pleaded guilty before U.S. District Judge Peter G. Sheridan in Trenton federal court to an indictment charging him with one count of conspiracy to commit bank fraud and one count of aggravated identity theft.
According to documents filed in this case and statements made in court: From July 2016 through May 2017, Jato and others participated in a credit card takeover conspiracy to obtain control of credit card accounts by contacting financial institutions and posing as account owners so they could change the personal information associated with their accounts, including the residential address, email address, and telephone number.
Members of the conspiracy then opened new accounts or ordered replacement cards to be shipped to them without the account owners’ knowledge or authorization. Jato and others used the compromised credit card accounts to purchase high-value items, including smartphones, tablets, and other electronic devices. Jato admitted receiving 25 percent to 30 percent of the illegal proceeds from more than 10 victims.
The bank fraud conspiracy charge carries a maximum potential penalty of 30 years in prison and a $1 million fine. The aggravated identity theft charge carries a mandatory sentence of two years in prison, which must run consecutive to any other term of imprisonment imposed.
Sentencing is scheduled for May 30, 2019.
Co-defendants Alexus Omowole and Henry Abdul previously pleaded guilty to conspiracy to commit bank fraud and aggravated identity theft and are awaiting sentencing.