Olalekan Jacob Ponle, 'Mr. Woodbery,' Sentenced to 8 Years for $8 Million Business Email Compromise Scheme

Case from 2020–2023 (U.S. Attorney's Office latest release: July 17, 2023). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Olalekan Jacob Ponle, 31, also known as "Mr. Woodbery" and "Mark Kain," was sentenced July 11, 2023, to eight years and four months in federal prison. The Nigerian national ran business email compromise schemes from the United Arab Emirates that caused U.S. companies more than $8.03 million in actual losses, according to the U.S. Attorney's Office for the Northern District of Illinois [1]. U.S. District Judge Robert W. Gettleman ordered him to pay more than $8.03 million in restitution and to forfeit luxury cars and watches bought with the proceeds.

How the scheme worked

According to the U.S. Attorney's Office [1] [2]:

1. Breaking in. In 2019, Ponle's co-schemers used phishing links to get into companies' email accounts.
2. Fake instructions. From those accounts, they sent employees emails that appeared to come from the company or a known business contact. The emails were nearly identical to earlier legitimate messages, but they told employees to wire money to new bank accounts.
3. Money mules. The money mules who opened those bank accounts did so at Ponle's direction.
4. Converting to bitcoin. After employees wired the money, sometimes millions of dollars, Ponle told the mules to convert it to bitcoin and send it to him.

The release puts actual losses at more than $8.03 million and intended losses at more than $51.3 million. One victim company was in Chicago. Others were in Iowa, Kansas, Michigan, New York, California and elsewhere [1]. The 2020 criminal complaint alleged that the Chicago-based company was tricked into sending wire transfers totaling $15.2 million [2].

The person sentenced

Olalekan Jacob Ponle, 31, Nigerian national, formerly living in the UAE [1] [2]

• Arrest: UAE law enforcement arrested him in June 2020. The UAE then expelled him into FBI custody, and he arrived in Chicago on July 2, 2020.
• Plea: guilty to wire fraud (2023).
• Sentence: 8 years and 4 months in prison, imposed July 11, 2023, plus more than $8.03 million in restitution.
• Forfeiture: a Rolls-Royce Cullinan, a Lamborghini Urus, a Mercedes-Benz G-Class AMG, and Rolex and Patek Philippe watches. He had earlier forfeited 151 bitcoin.
• Investigation: FBI Chicago, with help from the Justice Department's Office of International Affairs and the Dubai Police.

Red flags

• An email asking you to send a payment to a new bank account, even if it looks exactly like earlier messages from a vendor or executive.
• Urgency or secrecy around a wire transfer.
• Login pages reached through email links. These are how attackers steal email passwords.

What to do if you're targeted

1. Verify payment changes by phone, using a number you already have on file, not one in the email.
2. Turn on multi-factor authentication for company email accounts.
3. If you've sent a wire, act fast. Call your bank to request a recall and file a report at ic3.gov. Quick reports improve the chances of freezing the money.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Olalekan Jacob Ponle ("Mr. Woodbery," "Mark Kain"), 31	N.D. Ill.	Pleaded guilty to wire fraud (2023); sentenced July 11, 2023, to 8 years, 4 months; $8.03M+ restitution; forfeited luxury cars, watches and 151 bitcoin	[1], [2]

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "International Cyber Fraudster Sentenced to More Than 8 Years in Federal Prison," July 17, 2023. https://www.justice.gov/usao-ndil/pr/international-cyber-fraudster-sentenced-more-8-years-federal-prison
2. U.S. Attorney's Office, Northern District of Illinois, "Nigerian National Expelled From the United Arab Emirates to Face Cyber Fraud Charge in Chicago," July 3, 2020. https://www.justice.gov/usao-ndil/pr/nigerian-national-expelled-united-arab-emirates-face-cyber-fraud-charge-chicago

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