Renowned Internet fraudster, Olalekan Jacob Ponle, also known as Woodberry, has pleaded guilty to internet fraud.
Woodberry has also agreed to surrender $8 million in proceeds of wire fraud as well as luxury cars and watches to the foreign government.
Woodberry, who loved to flaunt his lavish lifestyle on Instagram, is a friend to disgraced Instagram celebrity, Ramon Abbas, also known as Hushpuppi.
Woodberry 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 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 Ponle’s signed plea declaration, Peoples Gazette reports.
U.S authorities also demanded he forfeits all his luxury cars, and designer watches stashed in Dubai.
The 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.
Ponle was arrested in Dubai on June 10, 2020, alongside Hushpuppi currently serving an 11-year sentence for a similar fraud charge.
