Olalekan Jacob Ponle, better known as Mr. Woodberry, a well-known partner-in-crime to now imprisoned internet fraudster, Ramon Abbas also known as Hushpuppi, has pleaded guilty to wire transfer.
In a petition submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6, Woodberry pleaded guilty to count one of the indictments and also agreed to forfeit to the foreign governments $8 million in proceeds of wire fraud, as well as luxury cars and watches.
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 offense,” stated the document containing Mr. Ponle’s signed plea declaration.
Woodberry was also asked to waive his rights to the luxury cars, and designer watches he had stashed in Dubai.
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.
Before his arrest, Woodberry was known for rolling and exhibiting expensive designer wear and showing off his illicit wealth to his massive Instagram followers, the majority of whom had no idea his luxury lifestyle was funded by cybercrime.
