Phone spoofing fraudster jailed over bank scam totalling almost £300,000

A fraudster behind a sophisticated scam that mimicked phone numbers of banks to dupe victims out of almost £300,000 has been jailed.

Olasukanmi Owoeye operated from a flat in Dartford, Kent, as part of a criminal network that used iSpoof, an online platform designed to disguise phone calls and trick people into revealing sensitive banking details.

iSpoof was a global platform, largely dismantled in 2022 after a Metropolitan Police investigation revealed it had been used to make 10 million bogus calls.

Enquiries then continued, assisted by other forces, to identity other UK-based criminals linked to its use.

In January 2024, officers from the Eastern Region Organised Crime Unit (ERSOU), working alongside City of London Police officers, arrested Owoeye and co-defendant Alessandra Monaco.

Offences widespread

An investigation established that between June 2021 and December 2023 more than 1,000 potential victims had been called across the country, including in Cambridgeshire, Dorset, London, Birmingham and Oxfordshire.

Those affected were told there had been fraudulent transactions which had comprised their finances, before being persuaded to make payments to third parties or provide access directly to their accounts.

As well as phone calls appearing to be from banks, the scam included texts and automated messages similar to those used by other legitimate financial institutions.

Owoeye employed several female callers, including Monaco, and evidence showed she was the most significant and likely most successful in defrauding victims.

Officers from ERSOU’s Proactive Economic Crime Team established Monaco regularly used Owoeye's flat in Hawley Road, Dartford to make the calls, and turnover on a crypto account connected to her exceeded £100,000.

Further evidence then linked the conspiracy to a third offender, Muhammed Bolade-Matti.  

Details of victims were found in notes on his phone, together with messages evidencing their use in fraud. Total losses attributed to victims contacted by Owoeye’s iSpoof account were as much as £277,000.

Owoeye was operation's lynch pin

All three were charged and appeared before Maidstone Crown Court, where Owoeye was described as the ‘lynch pin’ in making the operation work.

• Owoeye, 28, pleaded guilty to two counts of conspiracy to commit fraud by false representation, and possession of articles for use in frauds.
• Monaco, 25, of Whitefoot Lane, Bromley, admitted conspiracy to commit fraud by false representation, and possession of articles for use in frauds.
• Bolade-Matti, 31, of Sedgmoor Place, Southwark, London, pleaded guilty to conspiracy to commit fraud by false representation.  

They were all sentenced on Thursday 9 July.

Owoeye was jailed for three years and nine months.

Monaco and Bolade-Matti received suspended sentences and were ordered to complete 200 and 100 hours of unpaid work, respectively.

Detective Constable Stuart Shields said:

"The criminals involved in this conspiracy caused significant distress to victims, exploiting their trust in banks and other financial organisations to steal money through a highly convincing scam. Owoeye was at the heart of the operation, directing others and enabling fraudulent activity over a prolonged period. “This case demonstrates that, even when offenders hide behind advanced technology, they can still be identified and brought before the courts. I do hope his sentence provides reassurance to victims and serve as a warning to anyone considering engaging in this type of criminality."

The case will now be subject to proceedings under the Proceeds of Crime Act to identify and recover any criminal assets.