Ponlet's Scheme: Suspects In Jail
Olalekan Jacob Ponle, better known on the Internet as Woodberry, together with his assistant was arrested in the UAE and extradited to the United States of America.
Millions of dollars fraud
They are charged with organizing a fraudulent scheme, as a result nearly 2 million people were injured. Based on the materials of the case, two companies became victims: the loss of the first amounted to $2.3 million, the second lost $15.2 million.
“A preliminary analysis of the blockchain shows that Ponle received a minimum of 1,494.71506296 related to these two fraudulent schemes worth $6.5 million,” the FBI stated.
Details on the scheme
According to the FBI, this scheme worked for about ten months. Fraudsters got access to the company’s email and sent letters to the employees telling them to transfer the company’s funds to a fraudulent bank account. Accounts were opened with the help of intermediaries, after which the money was partially transferred to Ponle's personal BTC wallet.