Olalekan Jacob, popularly known as Woodberry an associate of Hushpuppy has pleaded guilty at the United States District Court of the Northern District of Illinois Eastern Division.
In a plea declaration submitted to the court on April 6, Woodberry pleaded guilty to wire fraud.
He agreed to forfeit some of his property which includes his Rolls Royce Cullinan, four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains, and also the sum of $8 million.
The $8 million, will be paid to the seven Companies that Woodberry scammed while he will forfeit the luxury to the foreign country.
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“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 offense,” the plea declaration reads.
Background
Olalekan Jacob Ponle is a known associate of Ramon Hushpuppy Abbas, who was sentenced to 11 years imprisonment for engaging in internet fraud
Woodberry was also known for irrational displays of his luxury on Instagram page to followers who were ignorant of his dubious activities to gain wealth.
He was arrested on June 20, 2022, with Hushpuppi, in Dubai. It was reported that he had forfeited the sum of 151.8 Bitcoin to the American government, last year.