Ramsey woman pleads guilty in credit fraud ring

The wife of a suspected ringleader in a mammoth Twin Cities identity fraud organization pleaded guilty Tuesday in St. Paul to conspiracy to defraud Capital One Bank by using counterfeit credit cards to tap into its customers' accounts.

Titilayo Abidemi Fowoshere, 33, of Ramsey, likely faces close to five years in prison, based on advisory sentencing guidelines, plus two to three years of supervised release, and a possible fine of $10,000 to $100,000. The amount of restitution she must pay is not yet resolved.

Fowoshere fought back tears as she admitted to the crime before U.S. District Judge Richard Kyle.

Capital One, based in McLean, Va., claims that the fraud ring accessed 1,330 accounts to obtain $652,000. The government says in court documents that some of the stolen money was used to buy salvaged cars at auction for shipment to Nigeria, where, according to an informant, they'd be sold as top quality for a higher price.

Fowoshere is the second of 11 suspects charged in the case to plead guilty.

Olayemi Lateef Bajoko pleaded guilty Feb. 10 to a single count of conspiracy to commit bank fraud. His plea agreement recommended a prison sentence in excess of five years, but the law only allows five years for that crime. The agreement requires that he cooperate in the investigation. Charges were dropped against one other suspect.

Fowoshere's husband, Bashiru Adelumola Fowoshere, 36, has returned to Nigeria and remains a fugitive, along with two other codefendants, according to court records.

Court filings indicate that the U.S. Secret Service suspects this case is part of a sophisticated, international organized crime ring.

Patrick Henry, commander of the Minnesota Financial Crimes Task Force, said at a recent meeting with public and private fraud examiners that the ring under investigation is believed to have more than 200 members, with 10 at the executive level, 50 to 60 middle managers and the rest low-level "runners" who allegedly steal identity information, cash checks and run other errands.

Dan Browning • 612-673-4493