Convicted fraudster Jacob Olalekan Ponle aka Mr Woodberry, has been sentenced to eight years and three months in prison for $8M wire fraud.
Woodberry was sentenced on July 11 by Judge Robert Gettleman of the United States District Court for the Northern District of Illinois in Chicago.
“The defendant is hereby committed to the custody of the Federal Bureau of Prisons to be imprisoned for a total term of 100 months as to count,” Mr Gettleman said.
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Mr Ponle was sentenced after being convicted on one count of fraud. Seven other counts were dismissed following a plea bargain in April.
Mr Gettleman ordered Mr Ponle to submit himself to the U.S. Marshal Service for onward transfer to the Federal Correctional Institution in Danbury, Connecticut, where his family members, especially his American fiancée, would be allowed to visit him.
Mr Ponle will also be “surrendered to U.S. Immigration and Customs Enforcement (ICE) custody for deportation immediately following his incarceration”, the judge said.
The Nigerian-born fraudster will pay seven victims about $8 million in restitution, with the court finding that he has the capacity to make the full payment but waived all interests on the restitution value.
After Woodberry serves his jail term, he will be summarily deported.
Recall the authorities have already begun the process to auction off his N3.2bn bitcoin stash.