Bank Worker Jailed for Facilitating Black Axe Crime Group’s Money Laundering Operations

A 26-year-old bank employee who facilitated the laundering of funds for a notorious transnational crime group has been sentenced to three years in prison.

Funmi Abimbola, a resident of Rosse Court Terrace, Lucan, was identified as a key facilitator for the Black Axe organised crime syndicate.

International law enforcement agencies have described the group as one of the most dangerous in the world, with operations spanning fraud, human trafficking, drugs, arms smuggling, and murder.

Abimbola, a former Bank of Ireland employee with a Master’s degree in Human Resources, managed multiple accounts and controlled the activities of money mules in Ireland.

After his initial arrest, he fled to the United Kingdom but was later extradited to face trial in Ireland.

In today’s ruling at the Circuit Criminal Court, Judge Pauline Codd sentenced him to five years, with two years suspended.

Judge Codd remarked that Abimbola was “effectively oiling the wheels” of the criminal enterprise.

Gardaí say Abimbola maintained a lavish lifestyle, driving a Mercedes and wearing designer clothing and jewellery.

His involvement came to light during an investigation by the Garda National Economic Crime Bureau (GNECB) into a €1 million invoice redirection fraud targeting a solicitor’s firm in November 2020.

Gardaí recovered €700,000 of the stolen amount, and 10 individuals have been convicted for laundering the funds.

During the investigation, CCTV footage showed Abimbola collecting an iPhone bought with proceeds of crime from a parcel motel.

The phone was linked to an account involved in a €121,000 business fraud. Gardaí also found 34 bank account details in his possession and extensive evidence of money mule operations across messaging platforms such as WhatsApp, Telegram, Snapchat, and iMessage.

Detective Superintendent Michael Cryan of the GNECB noted that Abimbola’s insider knowledge as a bank employee enabled him to exploit financial systems.

“He was working at the mid to high levels of the organisation, facilitating its operations by moving money and managing accounts,” Cryan said.

Interpol’s Financial and Organised Crime Unit Director, Rory Corcoran, described Black Axe as a sophisticated organisation with a business model based on a division of labour.

Criminals use false documents to open accounts in one country, commit crimes in another, and launder money across multiple jurisdictions.

During a search of Abimbola’s home, Gardaí recovered €2,600 in cash, luxury items, and a bank card in the name of a prospective money mule.

Following his initial arrest, Abimbola was granted bail but fled to Manchester. He was rearrested and extradited to Ireland to face trial.

Five other individuals were sentenced earlier this year in connection with the same crime:

Cameron Fanning, 25, of Bishop Rogan Park, Kilcullen, Co. Kildare, received a fully suspended three-and-a-half-year sentence for money laundering and providing false information to Gardaí.

Mubarak Salawu 22, of The Paddocks Drive, Adamstown, Lucan, was sentenced to two years, suspended, for laundering stolen money and possessing €600 Balenciaga sneakers bought with criminal proceeds.

Olumide Lawal, 27, of Fettercairn Road, Tallaght, admitted to laundering funds and possessing a €900 iPhone purchased with proceeds of crime. He received a suspended two-year sentence.

Aaron Clancy 21, of The Square, Walshetown Park, Newbridge, Co. Kildare, was given a suspended two-year sentence for laundering €3,020 related to the solicitor’s firm and possessing an additional €4,650 obtained from crime.

Authorities say the Black Axe group continues to adapt its operations, including shifting tactics during the COVID-19 pandemic. Prior to the pandemic, many criminals traveled to Ireland specifically to open bank accounts for fraudulent activities.

Interpol and the Gardaí remain committed to dismantling the group’s networks and countering its influence across global financial systems.