International Cyber Fraudster Sentenced to More Than 8 Years in Federal Prison

In a significant development in the fight against cybercrime, a cyber fraudster known as “Mr. Woodbery” has been sentenced to over eight years in federal prison for orchestrating an $8 million fraud scheme. The individual, Olalekan Jacob Ponle, a Nigerian national residing in the United Arab Emirates, worked with co-schemers to carry out business email compromise schemes. Through the use of phishing links and false instructions, they were able to gain access to email accounts belonging to victim companies and trick employees into wiring money to bank accounts controlled by Ponle. The scheme resulted in millions of dollars in losses for the targeted companies. Ponle has pleaded guilty to federal wire fraud charges and has been ordered to pay restitution and forfeit assets acquired through the fraud. This case highlights the ongoing threat posed by cybercriminals and the significant efforts being taken to bring them to justice.

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Article Title: International Cyber Fraudster Sentenced to More Than 8 Years in Federal Prison

An individual residing in the United Arab Emirates has been convicted and sentenced to over eight years in federal prison for orchestrating an elaborate cyber fraud scheme amounting to $8 million. Olalekan Jacob Ponle, known by various aliases including “Mr. Woodbery” and “Mark Kain,” operated from the UAE in 2019 and collaborated with accomplices to execute multiple business email compromise schemes.

A Resident of the United Arab Emirates Orchestrated an $8 Million Cyber Fraud Scheme

Ponle, a Nigerian national, was living in the United Arab Emirates in 2019 when he worked with co-conspirators to carry out a series of business email compromise schemes, resulting in losses of more than $8.03 million for victim companies. These companies were located across various states in the United States, including Illinois, Iowa, Kansas, Michigan, New York, and California.

Ponle’s Co-Schemers and Phishing Links

To execute these fraudulent schemes, Ponle enlisted the help of co-schemers who used phishing links to gain unauthorized access to the email accounts of victim companies. Once they gained access, they created false instructions disguised as genuine messages from the company or known business contacts. These fraudulent emails closely resembled previous legitimate emails sent from the company’s account. The instructions directed the employees of the victim companies to wire money to bank accounts opened by money mules under Ponle’s command.

Ponle’s Instructions to Money Mules

Once the unsuspecting employees wired the money to the designated bank accounts, Ponle instructed the money mules to convert the proceeds into Bitcoin and transfer them to him. This process allowed Ponle to conceal the illicit origins of the funds and further evade detection by law enforcement authorities.

Victim Companies’ Losses

As a result of Ponle’s cyber fraud scheme, victim companies incurred actual losses exceeding $8.03 million. Additionally, the intended losses amounted to more than $51.3 million. It is important to note that one of the victim companies was based in Chicago, while others were spread across several states in the United States.

Arrest and Extradition of Ponle

Ponle’s criminal activities came to an end when he was apprehended in June 2020 by law enforcement authorities in the United Arab Emirates. Following his arrest, he was extradited to the United States with the assistance of the FBI. Ponle arrived in Chicago the following month to face federal charges related to his cyber fraud scheme.

Ponle’s Guilty Plea and Sentencing

Earlier this year, Ponle pleaded guilty to a federal wire fraud charge. On July 11, 2023, U.S. District Judge Robert W. Gettleman sentenced Ponle to eight years and four months in federal prison. The judge also ordered Ponle to pay restitution of more than $8.03 million to the victim companies. Furthermore, Ponle was required to forfeit several luxury items that were purchased using the proceeds from the fraud scheme, including a Rolls Royce Cullinan, Lamborghini Urus, Mercedes-Benz G-Class AMG G55, and Rolex and Patek Philippe watches. Additionally, Ponle had previously forfeited 151 Bitcoin, which were traced back to the proceeds from his fraudulent activities.

Restitution and Forfeiture of Luxury Items and Bitcoin

In addition to the prison sentence, Ponle was ordered to pay restitution of over $8.03 million to the victim companies. Furthermore, he was compelled to forfeit numerous luxury items that were purchased using funds derived from the cyber fraud scheme. The seized luxury items include a Rolls Royce Cullinan, Lamborghini Urus, Mercedes-Benz G-Class AMG G55, and Rolex and Patek Philippe watches. Moreover, Ponle had already forfeited 151 Bitcoin, which were linked to the proceeds from his illicit activities.

Announcement of Sentence

Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Robert W. “Wes” Wheeler, Jr., Special Agent-in-Charge of the Chicago Field Office of the FBI, jointly announced the sentencing of Ponle. The successful prosecution and conviction of Ponle were made possible due to the valuable assistance rendered by the Justice Department’s Office of International Affairs and the Dubai, UAE Police Department. Melody Wells, an Assistant U.S. Attorney from the Northern District of Illinois, represented the government in the case.

Assistance Provided by Other Organizations

In bringing Ponle to justice, the United States government received valuable assistance from the Justice Department’s Office of International Affairs and the Dubai, UAE Police Department. The collaboration and coordination among these organizations played a crucial role in the successful apprehension, extradition, and conviction of Ponle.