A federal Judge in the United States sentenced Olalekan Ponle, popularly known as Woodberry, to eight years and three months in prison for orchestrating a multimillion-dollar fraud.
Ponle was sentenced on July 11 by Judge Robert Gettleman of the United States District Court for the Northern District of Illinois in Chicago, according to court documents obtained by Peoples Gazette.
According to Gettleman, “the defendant is hereby committed to the custody of the Federal Bureau of Prisons to be imprisoned for a total term of 100 months as to count.”
Woodberry was given instructions by Gettleman to submit himself to the United States Marshals Service for transfer to the Federal Correctional Institution in Danbury, Connecticut, where he would be allowed visits from family members and his American fiancée. The judge also stated that Ponle will be “surrendered to the United States Immigration and Customs Enforcement (ICE) custody for deportation immediately following his incarceration”.
The court determined that the Nigerian-born fraudster had the financial means to repay the entire amount, but waived all interest on the reparation value. He will now pay nearly $8 million in reparations to seven victims.
On June 29, American prosecutors asked that Ponle, a.k.a. Woodberry, be sentenced to 14 years in jail for the fraud he committed between January and September of this year.
The prosecutors also asked the court for permission to sell the fraudster’s 152 bitcoins, but only after providing the public with 30 days’ notice so that anyone with a legitimate stake could file one; when Woodberry was sentenced, it appeared that no one with a legitimate stake came forward.
The prosecutors further suggested that Woodberry, who is renowned for flaunting his opulent lifestyle on social media, forfeit properties 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.
He must also surrender two bank cards, approximately $1,835 in Emirati dirhams and around $15.45 in South African rands, as well as five gold bracelets, two gold bracelet keys, six gold neck chains, one gold and diamond-studded necklace, and one small gold nugget.
Woodberry was arrested on June 10, 2020, together with Ramon “Hushpuppi” Abbas, who was sentenced to 11 years in jail in the United States late last year for fraud.
