Toba Owojaiye reporting
Olalekan Jacob Ponle, a Nigerian-born individual also known as Woodberry, has been sentenced to eight years and three months in prison by a Federal Judge in the United States. The sentencing took place on July 11 in the United States District Court for the Northern District of Illinois in Chicago. Woodberry was convicted on one count of fraud, while seven other counts were dismissed as part of a plea bargain made in April.
According to court filings, Judge Robert Gettleman ordered Woodberry to be committed to the custody of the Federal Bureau of Prisons for a total term of 100 months. Following his imprisonment, Woodberry will be surrendered to the custody of U.S. Immigration and Customs Enforcement (ICE) for deportation to Nigeria.
As part of the sentencing, Woodberry has been instructed to pay approximately $8 million in restitution to seven victims of his fraud. The court determined that he has the capacity to make the full payment and waived any interest on the restitution value.
Earlier, on June 29, American prosecutors had requested a 14-year prison sentence for Woodberry due to his involvement in the fraud, which occurred between January and September 2019. The prosecutors also sought court permission to sell Woodberry’s 152 bitcoins, with a 30-day notice period provided for anyone with a legitimate claim on the assets. However, as of the time of Woodberry’s sentencing, no one with a valid interest had come forward.
The prosecutors also recommended the forfeiture of various items held in Dubai police custody, including luxury vehicles such as a Rolls Royce and a Lamborghini Urus, as well as several high-end watches. Additionally, Woodberry was to forfeit several pieces of jewelry, gold accessories, bank cards, and small amounts of currency.
Woodberry was arrested on June 10, 2020, along with Ramon ‘Hushpuppi’ Abbas, who had previously been sentenced to 11 years in prison in the U.S. for internet fraud.