U.S. Authorities to Sell 152 Bitcoins Seized from Internet Fraudster Mr Woodberry

The United States authorities have revealed their plan to sell off 152 bitcoins confiscated from internet fraudster, Olalekan Jacob Ponle, also known as Mr. Woodberry, after he pleaded guilty to an $8 million wire fraud. According to a document filed at the U.S. District Court for the Northern District of Illinois, the U.S. Marshal Service will assume custody of the seized cryptocurrency for disposal.

This decision follows Mr. Woodberry’s agreement to forfeit all proceeds from the wire fraud scheme, which he orchestrated under the alias ‘Mark Kain’. Interested individuals are encouraged by federal authorities to file a claim for the seized property within 30 days and provide valid documentation during the registration process.

The U.S. authorities have stated that they will provide written notice to any person known to have alleged an interest in the property that is the subject of the preliminary order of forfeiture. The United States shall publish notice of this order and of its intent to dispose of the property.

This development marks a significant step in the fight against internet fraud and serves as a warning to those who engage in such activities. The sale of the seized bitcoins is expected to generate significant revenue for the U.S. government and serve as a deterrent to others who may be considering engaging in fraudulent activities.

A writer at Parallel Facts