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Woodberry, Hushpuppi’s accomplice admits to fraud charge, gives up $8 million, luxury assets


Woodberry, Hushpuppi’s accomplice admits to fraud charge, gives up $8 million, luxury assets

Hushpuppi’s close ally, Olalekan Jacob Ponle, also known as Woodberry, has pleaded guilty to a fraud charge brought against him for engaging in Business Email Compromise (BEC), according to a plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6.

Woodberry was arrested in Dubai on June 10, 2020, along with Ramon Hushpuppi Abbas, who is currently serving an 11-year sentence for a similar fraud charge.

Initially, Woodberry pleaded not guilty to the eight-count fraud charge. However, he has since had a change of heart and has pleaded guilty to count one of the indictments. He has also agreed to surrender $8 million in proceeds of wire fraud.

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“The defendant understands that by pleading guilty, he will forfeit to the United States any right, title, and interest he has in any property obtained directly or indirectly as a result of the offence,” the plea declaration, which contains Ponle’s signed plea, stated.

In addition to the $8 million, Woodberry has also agreed to waive his rights to the luxury cars and designer watches he had stashed in Dubai. The high-end automobiles include a Rolls Royce Cullinan with vehicle no J9153, a Lamborghini Urus (N4973), and a 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, Woodberry forfeited 151.8 Bitcoin, roughly $6 million, to the American government, which is determined to recover all stolen money from the Nigerian fraudster.

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