Hushpuppi’s ally, Woodberry pleads guilty, to return $8m to victims and forfeiting Dubai assets

Olalekan Jacob Ponle popularly known as Mr. Woodberry, an internet fraudster and an ally of the convicted internet fraud kingpin, Ramon Abbas popularly known as Hushpuppi, has pleaded guilty to count one of the eight counts brought against him in the US.

Woodberry and Hushpuppi were arrested in 2020 for extensive international online scams in Dubai, the United Arab Emirates and were flown to the United States to face separate trials.

Woodberry, accused of defrauding a US company of about $188,000, and engaging in a scheme known as business email compromise (BEC), similarly maintained his innocence for over two years. But he made a U-turn to plead guilty to one count of wire fraud during a change of plea hearing at the US District Court for Northern Illinois this April.

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,” the document containing Mr Ponle’s signed plea declaration reads.

The court also asked him to waive his rights to the luxury cars and designer watches he had stashed in Dubai to the government authorities.

The items seized from Woodberry include high-end automobiles Rolls Royce Cullinan with vehicle no J9153, Lamborghini Urus (N4973); Mercedes-Benz G-class (G68816); four Rolex watches; one Patek Philippe watch; three Audemars Piguet watches; three gold and diamond-studded earrings and six gold neck chains.

In 2022, Mr. Woodberry forfeited 151.8 Bitcoin which was worth roughly $6 million, to the US government.

Mr. Woodberry’s sentencing is scheduled for July 11, 2023.