Hushpuppi: FBI Confirmed His Gang Made Over $1.7 Billion From Scam in 2019 Alone.
Abbas Ramon Olorunwa popularly known as Hushpuppi Ray and his close friend Woodbery landed in the United States of America on Thursday as they began their trials. The Instagram celebrity landed in the United States to face criminal charges after he was handed over by the Dubai law enforcement agencies, three weeks after his initial arrest.
The United States government has now alleged that the 37 year old conspired to launder hundreds of millions of dollars from business email compromise (BEC) frauds and other scams says FBI.
This crime includes schemes targeting a U.S. law firm, a foreign bank and an English Premier League soccer club, according to reports.
Hushpuppi made his first appearance in court appearance on Friday where he was questioned on countless charges leveled against him. The United Anthony office allegedly that Hushpuppi and his gang made over billion dollars from scam alone last year and most of their victims are United States based firms and banks.
In 2019 alone, the FBI recorded $1.7 billion in losses by companies and individuals victimized through business email compromise scams, the type of scheme Mr. Abbas is charged with conducting from abroad,” said Paul Delacourt, the Assistant Director in Charge of the FBI’s Los Angeles Field Office.
“While this arrest has effectively taken a major alleged BEC player offline, BEC scams represent the most financially costly type of scheme reported to the FBI. I urge anyone who transfers funds personally or on behalf of a company to educate themselves about BEC so they can identify this insidious scheme before losing sizable amounts of money.” the reports said. If found guilty of the crime, Hushpuppi and his could be jailed for 20 years.
