Wednesday, August 12, 2026

Mr Woodberry pleads guilty to Internet fraud; agrees to pay $8 million to victims, forfeit luxury Dubai assets

Mr Ponle was arrested in Dubai on June 10, 2020, alongside Ramon Hushpuppi Abbas, currently serving an 11-year sentence for a similar fraud charge.

• April 13, 2023
MR WOODBERRY
MR WOODBERRY

Notorious Internet fraudster, Olalekan Jacob Ponle, alias Mr Woodberry, has entered a plea of guilt with the U.S. authorities, agreeing to surrender $8 million in proceeds of wire fraud as well as luxury cars and watches to the foreign government.

Mr Woodberry, who loved to flaunt his lavish lifestyle on Instagram, had at first pleaded not guilty to the eight-count fraud charge brought against him for engaging in a scheme known as business email compromise (BEC).

However, a plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6 revealed Mr Woodberry had had a rethink and is now pleading guilty to count one of the indictments.

According to his plea agreement, he was required to repay the $8 million he fraudulently received from the seven companies that fell for his scam.

“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 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 had forfeited 151.8 Bitcoin, roughly $6 million, to the American government, determined to recover all stolen monies from the Nigerian fraudster.

Mr Ponle was arrested in Dubai on June 10, 2020, alongside Ramon Hushpuppi Abbas, currently serving an 11-year sentence for a similar fraud charge.

Before his arrest in 2020, Mr Woodberry was known for rocking expensive designer wear and showing off his ill-gotten wealth to his massive Instagram followers, the majority of whom had no inkling his luxury lifestyle was funded by cybercrime.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Wike

Abuja

Wike shuts Abuja secretariat of dissolved committee on sales of FG houses 

According to the statement, the secretariat was retained to attend to issues arising from the ad-hoc committee’s activities upon the completion its the assignments.

Securities and Exchange Commission (SEC)

Economy

Capital Market: SEC urges investors to reclaim outstanding  funds, promotes e-dividend registration

Ms Hassan-Usman also warned investors against Ponzi schemes and other fraudulent investment arrangements.

Scale of justice.

States

21-year-old man in court over alleged N4.8 milion car theft

According to the prosecutor, the offence contravened Section 390(9) of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State, 2000.

LEGISLATIVE GAVEL

States

Kaduna woman seeks divorce after 35 years of marriage over lack of love

Mr Sanusi told the court that his client was seeking payment of N300, 000.