Hushpuppi’s Friend, 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.