Jacob Olalekan Ponle, commonly known as Woodberry, was given an eight years and three months jail sentence by Judge Robert Gettleman of the United States District Court for the Northern District of Illinois in Chicago for orchestrating a multimillion-dollar fraud on July 11, 2023.
Recall that Woodberry and Ramon ‘Hushpuppi’ Abbas, who was sentenced to 11 years in prison in the US for online fraud late last year, were both apprehended on June 10, 2020.
Ponle received a sentence following his conviction on a single fraud charge. In April, seven further offences were dropped as part of a plea agreement.
Gettleman instructed Woodberry to present himself to the U.S. Marshal Service for transfer to the Federal Correctional Institution in Danbury, Connecticut, where his family members, particularly his American fiancée, would be permitted to visit him, according to court documents.
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In addition, the judge stated that Ponle will be “surrendered to U.S. Immigration and Customs Enforcement (ICE) custody for deportation immediately following his incarceration”.
The court determined that Woodberry has the financial means to repay the full amount but waived all interest on the restitution value. As a result, Woodberry will pay nearly $8 million in reparations to seven victims.
Recall how, on June 29, the prosecution urged the court to sentence Woodberry to 14 years in jail for the fraud he perpetrated between January and September 2019?
The prosecutors also asked the court for permission to sell the fraudster’s 152 bitcoins, but only after providing the public with a 30-day notice to register claims if they had any interest in the assets. As of the time of Woodberry’s sentencing, no one with a legitimate interest didn’t appear to have come forward.
Additionally, the prosecutors suggested that Woodberry, who is well-known for showcasing his extravagant lifestyle on social media, forfeit property held by the Dubai police, including a Rolls-Royce, a Lamborghini Urus, a Mercedes-Benz G-Class AMG G55, four Rolex watches, a Patek Philippe watch, and three Audemars Piguet watches.
In addition, he must surrender two bank cards, roughly $1,835 in Emirati dirhams, and around $15.45 in South African rands, along with five gold bracelets, two gold bracelet keys, six gold neck chains, one gold and diamond-studded necklace, and one small gold nugget.
