In a significant
development, Judge Robert Gettleman of the United States District Court for the
Northern District of Illinois in Chicago has delivered his verdict and
sentenced Jacob Olalekan Ponle, popularly known as Woodberry, to eight years
and three months in prison for masterminding a multimillion-dollar fraud
scheme. The sentencing took place on July 11, as reported by Naija News.
Woodberry, who gained
notoriety as a fraudster, was apprehended on June 10, 2020, along with Ramon
‘Hushpuppi’ Abbas. Hushpuppi was previously sentenced to 11 years in prison for
internet fraud in the United States. In this case, Woodberry faced charges
related to fraud, and after a plea bargain in April, seven additional counts
were dismissed.
Judge Gettleman handed
down the sentence after finding Woodberry guilty on one count of fraud. As part
of the ruling, Woodberry was ordered to be taken into the custody of the
Federal Bureau of Prisons, where he would serve a total of 100 months. The
judge specifically mentioned that Woodberry’s American fiancée and other family
members would be permitted to visit him during his incarceration at the Federal
Correctional Institution in Danbury, Connecticut. Additionally, the judge
stated that Woodberry would be handed over to the custody of U.S. Immigration
and Customs Enforcement (ICE) for immediate deportation upon completing his
prison term.
Woodberry was also
instructed to pay restitution to seven victims, amounting to approximately $8
million. The court determined that Woodberry possessed the means to make the
full payment, although he was granted a waiver on any interest associated with
the restitution amount.
Earlier, on June 29, the
prosecutors had urged the judge to impose a 14-year prison sentence on
Woodberry for his fraudulent activities carried out between January and
September 2019. The prosecutors further sought permission from the court to
sell Woodberry’s 152 bitcoins. However, the sale would only proceed after a
30-day notice was issued to the public, allowing individuals with legitimate
claims to come forward. As of the time of Woodberry’s sentencing, no such
claimants had emerged.
In addition to the
prison sentence and restitution, the prosecutors recommended that Woodberry
forfeit various assets held in Dubai police custody. These assets included a
Rolls Royce, Lamborghini Urus, Mercedes-Benz G-Class AMG G55, four Rolex
watches, one Patek Philippe watch, and three Audemars Piguet watches.
Furthermore, Woodberry was to surrender three gold and diamond-studded rings,
five gold bracelets, two gold bracelet keys, six gold neck chains, one gold and
diamond-studded necklace, one small gold nugget, two bank cards, approximately
$1,835 in Emirati dirhams, and roughly $15.45 in South African rands.
With the sentencing
complete, Jacob Olalekan Ponle, or Woodberry, faces a substantial prison term,
the payment of restitution to victims, the forfeiture of significant assets,
and eventual deportation after serving his sentence.
