Hushpuppi’s Ally, Mr Woodberry, Pleads Guilty To Internet fra¥d, Agrees To Pay $8m To Victims (Details)

Olalekan Jacob Ponle, also known as Mr Woodberry, a notorious Internet fraudster, accepted his guilt to American authorities and agreed to turn over $8 million in wire fraud proceeds as well as expensive automobiles and watches to the foreign government.

The eight-count fraud allegation against Mr. Woodberry, who frequently flaunted his opulent lifestyle on Instagram, was initially brought against him for participating in a scheme known as business email compromise (BEC). At first, he entered a not guilty plea.

But according to a plea declaration delivered on April 6 to the Northern District of Illinois Eastern Division of the United States District Court, Woodberry had a change of heart and is now pleading guilty to count one of the counts.

According to his plea agreement, he was required to repay the $8 million he fraudulently received from the seven companies that fell for his scam.

“Defendant understands that by pleading guilty, he will subject to forfeiture to the United States all right, title, and interest that he has in any property constituting or derived from proceeds obtained, directly or indirectly, as a result of the offence,” stated the document containing Mr Ponle’s signed plea declaration.

Mr Ponle was also asked to waive his rights to the luxury cars, and designer watches he had stashed in Dubai.  The high-end automobiles include Rolls Royce Cullinan with vehicle no J9153, Lamborghini Urus (N4973) and Mercedes-Benz G-class (G68816).

Other items seized are four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains.

Last year, he had forfeited 151.8 Bitcoin, roughly $6 million, to the American government, determined to recover all stolen monies from the Nigerian fraudster. He is set to be sentenced in July 11, 2023.

It would be recalled that he was arrested in Dubai on June 10, 2020, alongside Hushpuppi currently serving an 11-year sentence for a similar fraud charge.