Dubai based instagram big boy, Raymond Abbas popularly known as Hushpuppi has appeared in court in US and is to face up to 20 years jail term.
This is coming after the alleged fraudster was extradicted from Dubai to the United states on thursday, 2nd of july 2020.
In a statement released by the US Department of Justice, Hushpuppi was accused of conspiring to launder hundreds of millions of dollars from business email compromise (BEC) frauds and other scams, including schemes targeting a U.S. law firm, a foreign bank and an English Premier League soccer club.
The statement partly read;
“BEC schemes as often involving a computer hacker gaining unauthorized access to a business’ email account, blocking or redirecting communications to and/or from that email account, and then using the compromised email account or a separate fraudulent email account to communicate with personnel from a victim company and to attempt to trick them into making an unauthorized wire transfer.
“BEC schemes are one of the most difficult cybercrimes we encounter as they typically involve a coordinated group of con artists scattered around the world who have experience with computer hacking and exploiting the international financial system,” said United States Attorney Nick Hanna. “This case targets a key player in a large, transnational conspiracy who was living an opulent lifestyle in another country while allegedly providing safe havens for stolen money around the world. As this case demonstrates, my office will continue to hold such criminals accountable, no matter where they live.
“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.
“Technology has essentially erased geographic boundaries leaving trans-national criminal syndicates to believe that they are beyond the reach of law enforcement. The success in this case was the direct result of our trusted partnerships between the Department of Justice and our federal law enforcement colleagues. These partnerships helped dismantle a sophisticated organized crime group who preyed upon unsuspecting businesses. It is thanks to these partnerships that the American people can feel a bit more secure today.”
This case is being prosecuted by Assistant United States Attorneys Anil J. Antony and Joseph B. Woodring of the Cyber and Intellectual Property Crimes Section. If convicted of conspiracy to engage in money laundering, Raymond Abbas would face a statutory maximum sentence of 20 years in federal prison.