Apple Podcasts
Spotify
Google Podcasts
Anchor
Google PlayA Nigerian social media influencer has been sentenced to 11 years in prison for laundering millions of stolen dollars.
According to the FBI, Ramon Olorunwa Abbas, 40, also known as Ray Hushpuppi, was considered “one of the most prolific money launderers in the world,” as he gained an immense following on social media by flaunting a lavish lifestyle highlighted by luxury cars and private jets.
In April 2021, Abbas pleaded guilty to conspiracy to engage in money laundering.
“Abbas bragged on social media about his lavish lifestyle – a lifestyle funded by his involvement in transnational fraud and money laundering conspiracies targeting victims around the world,” said United States Attorney Martin Estrada. “Money laundering and business email compromise scams are a massive international crime problem, and we will continue to work with our law enforcement and international partners to identify and prosecute those involved, wherever they may be.”
Prosecutors claim Abbas, who has been ordered to pay over $1.7 million in restitution to two of his victims, helped launder over $300 million by participating in online bank heists and business email compromise (BEC), the second of which involves “gaining unauthorized access to a business email account and attempting to trick a victim business into making an unauthorized wire transfer.”
“By his own admission, during just an 18-month period, defendant conspired to launder over $300 million,” prosecutors said. “While much of this intended loss did not ultimately materialize, [Abbas’] willingness and ability to participate in large-scale money laundering highlights the seriousness of his criminal conduct.”
On Monday, Abbas was sentenced to 135 months in federal prison, with a judge ordering the scammer to pay $922,857 in restitution to a New York-based law firm and $809,983 in restitution to a victim in Qatar.
