Olalekan Jacob Ponle, popularly known as Woodberry, an associate of Ramon Abbas, Hushpuppi, has pleaded guilty to fraud with the United States authorities.
Having pleaded guilty, he also agreed to forfeit $8 million in proceeds of wire fraud as well as items to the foreign government.
Prior to his arrest, Woodberry was known for rocking and flaunting expensive designer wear and showing off illicit wealth to his massive Instagram followers, the majority of whom had no idea his luxury lifestyle was funded by cyber crime.
Recall both Hushpuppi and Woodberry were arrested in 2020 for extensive international online scams in Dubai, the United Arab Emirates and were flown to the United States to face separate trials.
Ponle’s plea declaration was submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6, according to Peoples Gazette.
The declaration stated, “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.”
Woodberry was also asked to waive his rights to the luxury cars, and designer watches he had stashed in Dubai, as well as 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.
Information Nigeria reports that last year, he forfeited 151.8 Bitcoin to the American government.
