Hushpuppi’s Gang, Woodberry Pleads Guilty To Fraud Charge In US, Forfeits $8million, Assets

An internet fraudster Olalekan Jacob Ponle popularly known as Woodberry, 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

He further agreed to surrender $8 million in proceeds of wire fraud as well as luxury cars and watches to the foreign government.

VerseNews Nigeria reports that 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 also accepted to surrender $8 million in proceeds of wire fraud as well as luxury cars and watches to the foreign government.

This Online News Media reports that Woodberry 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, 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.”

DON’T MISS: Peter Obi ‘Detained’, ‘Harassed’ In UK London Over Offence Of Impersonation

According to Director of Dubai CID, Brigadier Jamal Salem Al Jallaf, 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.

This Online News Media reports that the document containing Mr Woodberry’s signed plea declaration states, “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 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, while the US authorities have determined to recover all stolen monies from the Nigerian fraudster.