Jacob Olalekan Ponle, also known as Woodberry, a Nigerian fraudster, has been sentenced to 8 years in prison by a federal judge in the United States. Ponle pleaded guilty to one count of wire fraud and one count of money laundering after admitting to defrauding a business of over $15 million.
Ponle, who was apprehended in 2020, was closely associated with another Nigerian fraudster, Ramon Abbas, popularly known as Hushpuppi, who recently received an 11-year prison sentence in the US. Ponle and Abbas were notorious for their sophisticated fraud schemes, which targeted businesses and individuals worldwide.
In Ponle’s case, he would assume the identity of a legitimate entrepreneur and contact potential victims, presenting them with investment opportunities. Once the victims agreed to invest, Ponle would vanish with their funds.
In addition to the prison term, Ponle has been ordered to pay restitution to his fraud scheme’s victim. Following the completion of his sentence, he will be deported to Nigeria.
