The United States District Court of the Northern District of Illinois Eastern Division has fixed July 11 to sentence infamous internet fraudster Olalekan Jacob Ponle, alias Mr Woodberry over the damning fraud allegations against him.

Mr Woodberry, friend and accomplice of Ramon “Hushpuppi” Abbas serving an 11-year jail term in a U.S. prison, will know his fate on July 11, particularly whether his forfeiture of $8 million and luxury assets would earn him a lighter sentence or have no impact at all.

“Sentencing is set for 7/11/2023 at 1:30 p.m.” stated a U.S. court order signed by district judge Robert W. Gettleman on April 6.

The coordinated business email compromise (BEC) that Mr Woodberry used in defrauding various American companies of millions of dollars had put him on the radar of the U.S. security agencies, leading to his arrest in Dubai in June 2020.

Along with Hushpuppi and other co-conspirators for the crimes committed, the U.S. government extradited him in July 2020.

The proceeds of his scam were mostly used in enhancing his personal status. 

Mr Ponle acquired luxury assets like Mercedes-Benz G-class, Lamborghini, Rolls Royce, and timepieces not designed for average-income people.

Patek Philippe, Rolex, and Audemars Piguet were the high-end watch brands he patronised and constantly flaunted on his Instagram account.

After initially pleading not guilty, Mr Woodberry reconsidered and entered a guilty plea to one of the eight-count charges against him. 

He has agreed to surrender the ill-gotten funds and luxury assets to the U.S. authorities to fulfil the terms of his plea agreement.