$10 Million Stolen in Online Romance Scam

For years, the internet has joked about mysterious emails from wealthy foreign princes promising riches.

But federal prosecutors say these scams have modernized becoming far more sophisticated and far more damaging to those targeted.

A man accused of stealing millions through online romance scams has now pleaded guilty in federal court in New York.

Derrick Van Yeboah, a 40-year-old Ghanaian national, admitted his role in a massive international fraud operation that targeted victims across the United States, according to the United States Attorney’s Office for the Southern District of New York.

“If it seems too good to be true,” prosecutors warned, “it probably is.”

Millions Stolen Through Fake Relationships

Prosecutors say the scheme relied on fake online romantic relationships, with members of the criminal organization creating fake identities on dating apps and social media.

Then once victims believed they were in a real relationship, scammers convinced them to send money for emergencies or financial needs.

Many of the victims were older Americans who believed they had found companionship online, according to federal officials.

Authorities say Van Yeboah personally carried out multiple scams and is responsible for stealing more than $10 million from victims.

Part of a Much Larger Fraud Network

Investigators say the romance scams were only part of the operation.

The Ghana-based criminal organization also carried out "business email compromise attacks", that tricked companies into wiring money to accounts controlled by the group.

Altogether, the network is believed to have stolen and laundered more than $100 million from victims and businesses across the country.

After the money was collected, investigators say it was eventually sent overseas.

Facing Years in Prison

Van Yeboah pleaded guilty Thursday, March 5, to conspiracy to commit wire fraud, a charge that carries a maximum possible sentence of 20 years in federal prison.

He also agreed to pay more than $10 million in restitution and forfeiture.

Sentencing is scheduled for June in Manhattan.

Federal officials say the case serves as a reminder to be cautious when meeting people online.