One of the most notorious fraudsters, Olalekan Jacob Ponle, aka Mr Woodberry, a well-known associate of Hushpuppi, has pleaded guilty to a fraud charge at a United States district court. Initially, he pleaded not guilty to 8 counts of fraud. Mr Woodberry is accused of engaging in a business email compromise (BEC) scheme, where he fraudulently received $8 million from 7 companies.

As per his plea agreement, Woodberry agreed to repay USD8 million he fraudulently received from 7 companies he scammed and waive the rights to his Dubai assets

He was also asked to waive his rights to the luxury cars, and designer watches he had stashed in Dubai, including a Rolls Royce Cullinan, Lamborghini Urus, 4 Rolex watches, three gold and diamond-studded earrings, and six gold neck chains to name a few.

Popular socialite & Hushpuppi’s associate Woodberry has pleaded guilty to Internet fraud. He has also agreed to return $8m to victims and forfeiture of his Dubai assets. pic.twitter.com/O7l57deMqj

— Dami’ Adenuga (@DAMIADENUGA) April 13, 2023

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

The two men were arrested for extensive international online scams in Dubai on June 10, 2020, and were flown to the United States to face separate trials.

Hushpuppi also initially pleaded not guilty but changed his plea to guilty in April 2021, just before a full-blown trial was to begin. The US district court for Central California charged Hushpuppi with 11 years in prison and a fine of $1.7 million.

Before his arrest, Mr Woodberry was known for his lavish lifestyle, which he flaunted on Instagram, where he had a massive following. He was known for wearing expensive designer clothes and showing off his wealth to his followers.

Get the latest Dubai news direct to your phone RN! Download The Lovin Dubai app for free RIGHT HERE (App Store) (Play Store) to get the latest trending stories to your phone.

Subscribe to our Newsletter.

Get the best of your city straight to your inbox.