Serial Internet fraudster and Hushpuppis associate, Olalekan Jacob Ponle, known as Woodberry, has pleaded guilty to internet fraud.
Woodberry had pleaded not guilty at first to the eightcount fraud charge brought against him for engaging in a scheme known as business email compromise (BEC).
However, a plea declaration submitted at the United States District Court of the Northern District of Illinois Eastern Division on April 6 revealed Woodberry has had a rethink and has now pleaded guilty to count one of the indictments.
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.
Woodberry by implication 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 Ponles signed plea declaration.
U.S authorities also demanded he forfeits all his luxury cars, and designer watches stashed in Dubai, UAE.
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