The associate of Hushpuppi, Mr. Woodberry, has pleaded guilty to internet fraud and agreed to pay $8 million to the victims as well as forfeit luxurious assets in Dubai.
Olalekan Jacob Ponle, also known as Mr. Woodberry, has reached a guilty plea with the U.S. authorities. He has agreed to surrender $8 million from the proceeds of wire fraud, along with luxury cars and watches, to the foreign government.
Initially, the flamboyant internet fraudster had pleaded not guilty to the eight-count fraud charge related to a scheme known as business email compromise (BEC). However, the plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6 indicates that Mr. Woodberry has now pleaded guilty to one count of the indictments.
According to the plea agreement, he is obligated to repay the $8 million he fraudulently received from seven companies that fell victim to his scam. The document containing Mr. Ponle’s signed plea declaration states that by pleading guilty, he will be subject to forfeiture of all property constituting or derived from proceeds obtained directly or indirectly as a result of the offense.
In addition, Mr. Ponle has been required to waive his rights to luxury cars and designer watches stashed in Dubai. These high-end automobiles include a Rolls Royce Cullinan with vehicle number J9153, Lamborghini Urus with number N4973, and Mercedes-Benz G-class with number G68816. Other seized items include four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains.
Mr. Ponle had already forfeited 151.8 Bitcoin, equivalent to roughly $6 million, to the American government last year in their efforts to recover all stolen funds from the Nigerian fraudster. He was arrested in Dubai on June 10, 2020, alongside Ramon “Hushpuppi” Abbas, who is currently serving an 11-year sentence for a similar fraud charge.
