SaharaReporters had reported that Woodberry, an internet fraudster and an ally of the convicted internet fraud kingpin, Ramon Abbas popularly known as Hushpuppi, had pleaded guilty to count one of the eight counts brought against him in the US.
A United States Federal Judge has sentenced Jacob Olalekan Ponle, popularly known as Mr. Woodberry, to eight years and three months in prison for his coordination of a multimillion-dollar fraud.
SaharaReporters had reported that Woodberry, an internet fraudster and an ally of the convicted internet fraud kingpin, Ramon Abbas popularly known as Hushpuppi, had pleaded guilty to count one of the eight counts brought against him in the US.
He further agreed to surrender $8 million in proceeds of wire fraud as well as luxury cars and watches to the foreign government.
However, according to a court filing obtained by Peoples Gazette, Woodberry was sentenced on July 11 by Justice Robert Gettleman of the US District Court for the Northern District of Illinois in Chicago to eight years and three months in jail.
“The defendant is hereby committed to the custody of the Federal Bureau of Prisons to be imprisoned for a total term of 100 months as to count,” Mr Gettleman said.
Mr. Ponle was sentenced after being convicted on one count of fraud. Seven other counts were dismissed following a plea bargain in April that was previously reported by The Gazette.
Mr. Gettleman ordered Woodberry to submit himself to the US Marshal Service for onward transfer to the Federal Correctional Institution in Danbury, Connecticut, where his family members, especially his American fiancée, would be allowed to visit him.
Woodberry will also be “surrendered to U.S. Immigration and Customs Enforcement (ICE) custody for deportation immediately following his incarceration," the judge said.
The Nigerian-born fraudster will pay seven victims about $8 million in restitution, with the court finding that he can make the full payment but waived all interests on the restitution value.
American prosecutors on June 29 asked the judge to sentence, Woodberry to 14 years in prison for the fraud he committed between January and September 2019.
The prosecutors also sought court permission to sell the fraudster’s 152 bitcoins, but only after a 30 days notice had been issued to the public for anyone with interest in the assets to file claims. No one with legitimate interest appeared to have surfaced as of the time of Mr. Woodberry’s sentencing.
The prosecutors also recommended that Mr. Woodberry, known for flaunting his flamboyant lifestyle on social media, forfeit items in the Dubai police custody, such as one Rolls Royce, Lamborghini Urus, Mercedes-Benz G-Class AMG G55, four Rolex watches, one Patek Philippe watch, and three Audemars Piguet watches.
Also, he is to forfeit three gold and diamond-studded rings, five gold bracelets and two gold bracelet keys, six gold neck chains, one gold and diamond-studded necklace, one small gold nugget, two bank cards, about $1,835 in Emirati dirhams, and approximately $15.45 in South African rands.
In April 2023, Woodberry pleaded guilty to count one of the eight counts brought against him in the US.
Woodberry earlier pleaded not guilty to the charges in which he was accused of engaging in a fraudulent scheme known as Business Email Compromise (BEC).
He was arrested in Dubai on June 10, 2020, alongside Ramon “Hushpuppi” Abbas, who is currently serving an 11-year jail term in the US for fraud.
In July 2020, SaharaReporters reported that Hushpuppi, Woodberry, and 10 others were arrested in an operation tagged ‘Fox Hunt’ after they were accused of “committing crimes outside the UAE, including money-laundering, cyber fraud, hacking, criminal impersonating, scamming individuals, banking fraud and identity theft.
Director of Dubai CID, Brigadier Jamal Salem Al Jallaf, said the raid that led to the arrest resulted in the confiscation of incriminating documents of a planned fraud on a global scale worth $435 million.
But a plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6, 2023, shows that Woodberry made a U-turn and pleaded guilty to count one of the charges.
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.