Woodberry receives an eight-year prison sentence for fraudulent activities
Jacob Olalekan Ponle, commonly known as Woodberry, has been sentenced to eight years and three months in prison by a federal judge in the United States. The sentence comes as a result of his involvement in a multimillion-dollar fraud scheme. The judgment was delivered on July 11 by Judge Robert Gettleman of the United States District Court for the Northern District of Illinois in Chicago. Judge Gettleman stated, "The defendant will be placed in the custody of the Federal Bureau of Prisons and serve a total term of 100 months for the specified count."
Judge Gettleman directed Ponle to report to the U.S. Marshal Service for transportation to the Federal Correctional Institution located in Danbury, Connecticut. At this facility, Ponle would have the opportunity to receive visits from his family members and his American fiancée.
Additionally, the judge specified that upon completion of his sentence, Ponle would be transferred to the custody of U.S. Immigration and Customs Enforcement (ICE) for immediate deportation proceedings.
After reviewing the case, the court concluded that the Nigerian-born fraudster possessed the financial means to fully repay the amount owed. However, the court decided to waive any interest on the restitution value. As a result, the fraudster will be responsible for reimbursing a total of nearly $8 million to seven victims as restitution.
On June 29, American prosecutors made a request for a 14-year prison sentence for Ponle, also known as Woodberry, due to his involvement in a fraud scheme spanning from January to September of the same year. Additionally, the prosecutors sought the court's approval to sell the fraudster's 152 bitcoins. However, they proposed a 30-day notice period to allow individuals with legitimate claims to come forward and file them. At the time of Woodberry's sentencing, it seemed that no one had stepped forward with a valid stake in the matter.
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