A Georgia man accused of laundering nearly $1 million through a complex cryptocurrency scheme has been arrested after a months-long investigation, according to the Bergen County Prosecutor’s Office.
Prosecutor Mark Musella said 39-year-old Olanrewaju B. Adeosun, of Dunwoody, Georgia, was taken into custody Monday in Queens, New York, after detectives tracked him down with help from the Department of Homeland Security, the Port Authority Police Department of New York and New Jersey, and U.S. Customs and Border Protection.
The arrest stems from a 15-month investigation that began in July 2024, when Palisades Park police alerted county detectives to a fraudulent wire transfer that caused a $982,148 loss to a local business. Investigators later determined the stolen money was pushed through several financial accounts before being converted into cryptocurrency.
According to the prosecutor’s office, Adeosun used a fake cryptocurrency account to move the funds as digital assets and then funneled them into accounts he controlled. Detectives say the money was ultimately withdrawn and used for his personal benefit.
Adeosun is charged with first-degree money laundering under New Jersey law. He remains in custody in New York while he awaits extradition to Bergen County.
Musella emphasized that the charges are accusations and that Adeosun is presumed innocent unless proven guilty in court. He also thanked multiple agencies for assisting with the case, including the Dunwoody Police Department, the Queens County District Attorney’s Office, and others involved in the investigation.