A 60-year-old Nigerian man, Okechukwu Josiah Odunna, has appeared in a federal court in Miami, facing charges linked to a mortgage fraud scheme that reportedly caused U.S. financial institutions to lose around $8 million.
Odunna, a former lawyer, was arrested in Nigeria on September 24, 2024, after the U.S. requested his extradition. He agreed to be extradited and was brought to Florida on March 6, 2025. He is charged with wire fraud and conspiracy to commit wire fraud targeting financial institutions. His arraignment and pretrial detention hearings are set for March 11 before U.S. Magistrate Judge Jonathan Goodman.
The indictment claims that between December 2005 and May 2008, Odunna and his accomplices tricked U.S. banks by submitting fake loan applications and inflating property prices to obtain larger loans than necessary.
At the time, Odunna was a director at Direct Title and Escrow Services, Inc. (DTES). He is accused of managing around 20 fraudulent property deals, providing false documents to both sellers and lenders.
Some of Odunna’s co-conspirators have already been punished. Karl Oreste admitted guilt and was sentenced to 100 months in prison, while Marie Lucie Tondreau, a former mayor of North Miami, received a 65-month sentence. Another accomplice, Kelly Augustin, is still on the run.
If found guilty, Odunna could face up to 30 years in prison for each fraud charge, along with possible fines and supervised release. The case is being handled by Assistant U.S. Attorney Ana Maria Martinez, with asset forfeiture managed by Assistant U.S. Attorney Daren Grove.
The FBI’s Miami Field Office and the Florida Office of Financial Regulation led the investigation, with help from the U.S. Justice Department’s Office of International Affairs and Nigerian authorities.
It’s important to note that an indictment is not a conviction. Odunna is considered innocent unless proven guilty in court.
