Olalekan Jacob Ponle, popularly known as Woodberry, has pleaded guilty to US authorities. Woodberry, who was arrested in Dubai alongside his close friend Hushpuppi, first pleaded not guilty to an eight-count fraud accusation stemming from his participation in a scheme known as business email compromise (BEC).
However, according to a plea declaration filed on April 6 in the United States District Court for the Northern District of Illinois Eastern Division, Mr. Woodberry has changed his mind and is now pleading guilty to count one of the counts.
He agreed to turn up $8 million in wire fraud proceeds.
“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 requested to relinquish ownership of the luxury cars and designer watches he had stowed in Dubai.
Rolls-Royce Cullinan (J9153), Lamborghini Urus (N4973), and Mercedes-Benz G-class (G68816) are among the high-end vehicles.
Four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains were also taken.
Last year, he forfeited 151.8 Bitcoin, or almost $6 million, to the US authorities, which was determined to retrieve all stolen funds from the Nigerian scammer.
On June 10, 2020, Mr. Ponle was detained in Dubai alongside Ramon Hushpuppi Abbas, who is currently serving an 11-year sentence for a similar fraud offence.
Mr. Woodberry was known for wearing costly designer clothing and flaunting his ill-gotten cash to his vast Instagram following, the majority of whom had no idea his affluent lifestyle was sponsored by cybercrime.
