Olalekan Jacob Ponle, popularly known as Woodberry, has pleaded guilty to the fraud charges levelled against him in a United States court.

Woodberry, a known associate and ally of Nigerian internet fraudster Ramon Abbas (better known as Hushpuppi) has also agreed to forfeit $8 million in proceeds of the fraudulent scheme known as business email compromise (BEC).

According to reports, part of Woodberry’s plea bargain includes the forfeiture of his luxury cars, watches and expensive fashion accessories — four Rolex watches, one Patek Philippe watch, three Audemars Piguet watches, three gold and diamond-studded earrings, and six gold neck chains — to the US government.

The cars to be forfeited include a Rolls Royce Cullinan with vehicle no J9153, Lamborghini Urus (N4973) and Mercedes-Benz G-class (G68816).

Hushpuppi’s accomplice was also instructed to waive his rights to the luxury cars, and designer watches he had stashed in Dubai.

The plea declaration was submitted to the United States District Court of the Northern District of Illinois Eastern Division on April 6.

Woodberry reportedly pleaded guilty to count one of the indictments and he is required to pay back the sum of $8 million he fraudulently received from the seven companies that he scammed.

“Defendant understands that by pleading guilty, he will subject to forfeiture to the United States all right, title, and interest that he has in any property constituting or derived from proceeds obtained, directly or indirectly, as a result of the offence,” stated the plea bargain document.

Like Hushpuppi, Woodberry is known for flaunting a lavish lifestyle on social media before his arrest.