Jacob Olalekan Ponle, widely recognized as Woodberry, has been sentenced to eight years and three months in prison by a federal judge in the United States, After being found guilty of his involvement in a multimillion-dollar fraud.
Woodberry’s sentencing was delivered on Tuesday by Judge Robert Gettleman of the US District Court for the Northern District of Illinois in Chicago.
‘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,’ Gettleman said.
After being convicted on one count of fraud, Ponle received his sentence, with a plea bargain reached in April resulting in the dismissal of seven other counts.
Based on Judge Gettleman’s decision, Ponle was ordered to turn himself in to the US Marshal Service for transfer to the Federal Correctional Institution situated in Danbury, Connecticut. Throughout his incarceration, his family members, especially his American fiancée, would be granted visitation rights.
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He will also be ‘surrendered to U.S. Immigration and Customs Enforcement (ICE) custody for deportation immediately following his incarceration’, the judge declared.
In the restitution process, the Nigerian-born fraudster has been ordered by the court to compensate seven victims with approximately $8 million. The court acknowledged his ability to make the full payment and decided to waive any interests on the restitution value.
American prosecutors, on June 29, submitted a request to the judge, seeking a 14-year imprisonment sentence for Woodberry for the fraud he perpetrated from January to September 2019.
In addition, the prosecutors sought court approval to sell the fraudster’s 152 bitcoins, contingent upon issuing a 30-day notice to the public, allowing individuals with a legitimate interest in the assets to come forward. As of Woodberry’s sentencing, no individuals with a valid interest had appeared.
The prosecutors also advised that Woodberry, notorious for his flamboyant lifestyle showcased on social media, relinquish various assets presently held by the Dubai police.
These assets consist of a Rolls Royce, Lamborghini Urus, Mercedes-Benz G-Class AMG G55, four Rolex watches, one Patek Philippe watch, and three Audemars Piguet watches.
More so, Woodberry is required to forfeit three gold and diamond-studded rings, five gold bracelets and two gold bracelet keys, six gold neck chains, one gold and diamond-studded necklace, one small gold nugget, two bank cards, about $1,835 in Emirati dirhams, and approximately $15.45 in South African rands.
On June 10, 2020, Woodberry and Ramon ‘Hushpuppi’ Abbas were taken into custody together. Hushpuppi later received an 11-year prison term in the United States for internet fraud at the end of last year.