US federal court sentences Hushpuppi’s ally, Woodberry, to eight years in prison. He is also anticipated to lose items in police possession in Dubai.
These items includes a Rolls Royce, a Lamborghini Urus, a Mercedes-Benz G-Class AMG G55, four Rolex watches, one Patek Philippe watch, and three Audemars Piguet watches.
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A US judge sentenced Jacob Olalekan Ponle, also known as Mr Woodberry, an accomplice of convicted fraudster Hushpuppi, to eight years and three months in prison for planning a multimillion-dollar fraud.
After being convicted on one count of fraud, Mr Woodberry was sentenced on July 11 by Judge Robert Gettleman of the United States District Court for the Northern District of Illinois in Chicago.
It was also revealed that seven other counts were dropped as part of a plea bargain in April.
The offender is now anticipated to surrender to the United States Marshals Service for transfer to the Federal Correctional Institution in Danbury, Connecticut, where his family members, particularly his American fiancée, will be permitted to visit him.
Mr. Woodberry, who will be deported after serving his prison sentence, will pay $8 million in restitution to seven victims.
The court determined that he is financially capable of making the full payment, but waived any interest on the reparation sum.
Prosecutors, who learned he possessed 152 bitcoins, asked the court for permission to sell them.
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A 30-day notice was sent to the public for anyone with a legitimate interest in the assets to register claims, but no one showed up at the time for his sentencing.
Mr. Woodberry will also hand over 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, approximately $1,835 in Emirati dirhams, and approximately $15.45 in South African rands.
