Hushpuppi’s ally, Woodberry pleads guilty to Internet fraud

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, 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).

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.