Business Maverick: ‘Billionaire Gucci master’ gets 11 years in prison for fraud

Ramon Abbas, 40, was sentenced on Monday in Los Angeles to 135 months in prison after pleading guilty in April 2021 to conspiracy to engage in money laundering, which included helping North Korean hackers launder money from their attempts to steal more than $1.3-billion through cyber-enabled bank heists, according to the US government.

Abbas, born in Nigeria, gained fame in Instagram posts to his more than 2 million followers, often smiling in front of one of his Rolls Royces or his Ferrari, or kicking back in a seat on a private jet. On gossip blogs, he was known as a “Nigerian big boy”, shorthand for an online fraudster. Abbas, dressed in an orange prison jumpsuit and handcuffed, told the judge he was in deep financial trouble in 2019 when he accepted offers from some associates to help them launder money.He apologised to his victims and promised to repay them in full by selling his two Rolls Royces, a Ferrari and a Range Rover.

hushpuppi As always apologies and remorse only comes when caught.

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