Suspected internet fraudster, Olalekan Jacob Ponle, popularly known as Mr Woodberry, has pleaded guilty to wire fraud.
Woodberry reached a plea deal with the United States government, in which he agreed to surrender $8 million he gained from wire fraud, as well as his luxury cars and watches.
He was charged with conspiracy to commit wire fraud after being arrested in the United Arab Emirates in 2020 and extradited to the US.
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Woodberry, a known associate of the now-imprisoned internet fraudster, Ramon Abbas, better known as Hushpuppi, recently in a plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6, pleaded guilty to count one of the indictments.
According to his plea agreement, he is required to pay back the sum of $8 million he fraudulently received from the seven companies that he scammed.
“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.
In addition, the court instructed Mr. Woodberry to renounce his ownership of the lavish cars and pricey wristwatches he purchased and stored in Dubai, UAE.
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 forfeited 151.8 Bitcoin to the American government.
On June 10, 2020, Woodberry was arrested in Dubai alongside Ramon Hushpuppi Abbas, who is currently serving an 11-year sentence for a similar fraud charge.
