The United States District Court of the Northern District of Illinois Eastern Division has set July 11 for the sentencing of internet fraudster, Olalekan Jacob Ponle, also known as Woodberry over the fraud allegations against him.
Woodberry, a friend and accomplice of Hushpuppi, will know his fate on July 11, as to whether his forfeiture of $8 million and luxury assets would fetch him a lighter jail term or have no impact.
A U.S. court order signed by district judge Robert W. Gettleman recently stated: “Sentencing is set for 7/11/2023 at 1:30 p.m.”
The well-planned Business Email Compromise (BEC) that Woodberry used to defraud many American companies of millions of dollars put him on the searchlight of the U.S. security agencies, leading to his arrest in Dubai in June 2020.
The U.S. government extradited him alongside Hushpuppi and other conspirators for the crimes they committed in July 2020.
The proceeds of his scam were majorly used in enhancing his personal status.
Woodberry bought luxury assets like Rolls Royce, Mercedes-Benz G-class, Lamborghini, and items designed for high-income people.
Woodberry pleaded not guilty initially but later reconsidered and entered a guilty plea to one of the eight-count levelled against him.
He agreed to surrender the ill-gotten funds and luxury assets to the U.S. authorities in a bid to fulfil the terms of his plea agreement.
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