Olalekan Jacob Ponle, commonly known as Woodberry, has admitted culpability to American law enforcement.
Woodberry first entered a not guilty plea to the eight-count fraud accusation brought against him for participating in a scheme known as business email compromise (BEC), which led to his detention in Dubai along with his close friend Hushpuppi.
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.
He agreed to surrender $8 million in proceeds of wire fraud.
“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).
Four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three pairs of gold and diamond stud earrings, and six gold neck chains are among the additional things taken.
In an effort to get back all of the stolen money from the Nigerian fraudster, he surrendered 151.8 Bitcoin, about $6 million, to the American government last year.
On June 10, 2020, Mr. Ponle and Ramon Hushpuppi Abbas, who is already serving an 11-year term for a case of similar fraud, were both apprehended in Dubai.
