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UAE crypto scammer sentenced to 8 years in prison for multimillion dollar fraud scheme
A United Arab Emirates resident and Nigerian citizen was sentenced to 8 years in federal prison for orchestrating a multi-million dollar fraud scheme that victimized businesses across the U.S., Illinois federal prosecutors said. Olaekan Jacob Ponle was extradited from the UAE into the custody of the Federal Bureau of Investigation in July 2020, where he remained until pleading guilty to a single wire fraud count earlier this year, the Justice Department said in a Tuesday press release. Ponle worked with a network of scammers to masquerade as corporate entities using phishing emails. The scammers duped employees into ... (full story)