Associate of Hushpuppi, Woodberry, pleads guilty and forfeits $8 million in assets.

Additionally, he consented to turn over to the foreign government luxury cars, watches, and $8 million in wire fraud proceeds.

In a plea declaration filed on April 6 at the United States District Court of the Northern District of Illinois Eastern Division, Mr. Woodberry, a known associate of the now-incarcerated internet fraudster Ramon Abbas, also known as Hushpuppi, admitted guilt to one count of the indictment, according to the Peoples Gazette.

He must repay the $8 million he fraudulently obtained from the seven businesses that fell for his con, per the terms of his plea agreement.

The document containing Mr. Ponle’s signed plea declaration stated, “Defendant understands that by pleading guilty, he will subject to forfeiture to the United States all right, title, and interest that he has in any property constituting or derived from proceeds obtained, directly or indirectly, as a result of the offence.”

Additionally, Mr. Ponle was requested to renounce his claim to the expensive cars and designer watches he had hidden away in Dubai.

The document containing Mr. Ponle’s signed plea declaration stated, “Defendant understands that by pleading guilty, he will subject to forfeiture to the United States all right, title, and interest that he has in any property constituting or derived from proceeds obtained, directly or indirectly, as a result of the offence.”

Additionally, Mr. Ponle was requested to renounce his claim to the expensive cars and designer watches he had hidden away in Dubai.

The high-end vehicles include a Mercedes-Benz G-class, a Lamborghini Urus (N4973), and a Rolls-Royce Cullinan with vehicle number J9153 (G68816).

Four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three pairs of gold and diamond stud earrings, and six gold neck chains are among the additional things taken.

He forfeited 151.8 Bitcoin to the US government last year.

On June 10, 2020, Ramon Hushpuppi Abbas, who is presently serving an 11-year term for a charge of similar fraud, and Mr. Ponle were both taken into custody in Dubai.

Prior to his arrest in 2020, Mr. Woodberry was well-known for flaunting his ill-gotten wealth to his voluminous Instagram following, the bulk of whom had no idea that his extravagant lifestyle was supported by cybercrime.