Popular internet fraudster, Olalekan Jacob Ponle, known as Woodberry, has pleaded guilty to wire fraud in the United States.

Woodberry, who is an associate of the now-imprisoned internet fraudster, Ramon Abbas, popularly known as Hushpuppi, also agreed to forfeit $8 million in proceeds of wire fraud to the US government.

The socialite, who was arrested alongside Hushpuppi in Dubai on June 10, 2020, will also forfeit luxury cars and watches to the government after he pleaded guilty to count one of the indictments in a plea declaration at the United States District Court of the Northern District of Illinois Eastern Division on April 6, 2023.

He was equally ordered to pay back the sum of $8 million he fraudulently received from the seven companies that he scammed.

READ ALSO: U.S. Court sentences Hushpuppi to 11 years imprisonment

“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,” the document containing Woodberry’s signed plea declaration read.

Woodberry was also asked to waive his rights to the luxury cars, and designer watches he had stashed in Dubai.

The cars included Rolls Royce Cullinan with vehicle no J9153, Lamborghini Urus (N4973), and Mercedes-Benz G-class (G68816).

Other items seized were four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains.

Woodberry, who forfeited 151.8 Bitcoin to the US government in 2022, was known for rocking and flaunting expensive designer wear and showing off his illicit wealth to his followers on Instagram.

The Star