Nigerian billionaire Ramon Abbas, dubbed the “Gucci Master” for his love of branded clothing, has been sentenced to 11 years in prison for participating in fraudulent schemes and aiding money laundering.
Ramon is known on Instagram as Hushpuppi. He gained popularity by posting his smiling photos in branded clothes and against the backdrop of luxury cars on social networks. Publications of luxurious living and trips in Rolls Royce, Ferrari or flights in a private jet attracted the attention of more than 2 million users.
Ramon Abbas, 40, was sentenced on Monday in Los Angeles to 135 months in prison for money laundering, including in conspiracy with North Korean hackers.
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In April 2021, Gucci Master pleaded guilty and declined to appeal the verdict. The billionaire’s lawyers expected a sentence of 4 to 5 years, but the court ordered 11.
“It was much more than we thought,” Abbas’ lawyer said.
U.S. District Judge Otis Wright said he believed prosecutors and lawyers were talking about two different people while portraying Abbas. Defenders described Ramon as a family man and a successful businessman who had long since done away with the underworld. In recent scams, lawyers noted, he only “gave fraudsters access to bank accounts.”
Abbas confirmed in court that he was in serious financial trouble in 2019, which led him to accept offers from some people to help with money laundering.
“I was desperate, Your Honor,” the defendant said.
Ramon confessed to opening bank accounts in Romania and Bulgaria for Galeb Alaumari (Galeb was sentenced to more than 11 years in prison in September after pleading guilty to money laundering conspiracy) to rob a Maltese bank. The scam, which also involved North Korean hackers, led to the theft of $13 million.
Another Gucci Master account was opened in Mexico (funds stolen from a British professional football club and a British company were supposed to go there). The scam could have cost the victims $6.9 million, according to the US.
Abbas also helped transfer funds stolen from a law firm in New York and a company in Qatar.
The prosecutor’s office asked the judge to sentence Abbas to 11 years and three months in prison.
“Abbas was not the leader, organizer or controller in the commission of this crime. He did everything in his power to correct his wrongdoing, ”the lawyers argued in turn.
Hushpuppi apologized and promised to make amends by selling his Rolls Royce, Ferrari and Range Rover. Court rules Abbas must pay $1.7 million to fraud victims
“If I could turn back time, I would have made a completely different decision and would have been more careful in choosing friends,” Ramon wrote in a letter to the court.
Source: Bloomberg
