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

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

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.”

World
Over 300 casualties recorded in Nagorno-Karabakh fuel depot explosion
Following the explosion, the authorities initially spoke of at least 200 people injured.

Showbiz
Nollywood actor Yemi Adeyemi ‘Suara’ dies
According to a statement by his son, Adedotun Adeyemi, the ‘Super Story’ actor, died on Sunday.

States
Ondo Crisis: Court stops impeachment of Deputy Governor Aiyedatiwa
Mr judge, who granted all the reliefs, adjourned the matter until October 9 for a hearing.

Politics
Mutfwang tells RMAFC to promptly resolve stamp duties controversy
Governor Caleb Mutfwang has asked RMAFC to resolve the contentious issue of stamp duties for Nigeria’s progress.

Economy
Flutterwave trade fair returns, redefines shopping experience with #BattleoftheBrands
Flutterwave, Africa’s leading payments technology company, announced today the return of its Trade Fair for the third year in a row.

Rights
Erisco Foods arrested consumer over negative review of company’s product: FCCPC
Erisco Foods, in a statement, said it would take all necessary actions against any malicious attack on its reputation.