Influencer Boasting About Money Turns Out to Be North Korean Hacker Laundering Money, a 'Fraudster'

Riding a Private Jet, Flaunting Luxury Cars and Designer Goods with 2.8 Million Followers
Posts and Images on SNS Provide Investigation Clues... Ultimately Sentenced to 11 Years in Prison

A photo of Ramon Abbas posted on his Instagram account. This account was later deleted. Photo by Instagram capture. Yonhap News Agency

[Asia Economy Reporter Bang Je-il] A famous influencer who flaunted wealth through social networking services (SNS) such as Instagram has finally faced the judgment of the law.

On the 8th (local time), major media outlets including the US ABC News reported that Ramon Abbas (40), a Nigerian-born fraudster accused of international money laundering and email phishing crimes, was sentenced to 11 years in prison.

He once operated an Instagram account called 'Hushpuppi' and had as many as 2.8 million followers, boasting popularity by showing off his wealth and connections. He flaunted the lifestyle of a wealthy billionaire by posting photos of himself wearing luxury goods and in front of high-end cars and private jets. Although he did make a lot of money, it was all obtained through cybercrime.

He introduced himself as a 'real estate developer,' but the FBI found that he funded his lavish lifestyle through online hacking and fraud that extorted more than $24 million (about 33 billion KRW).

Abbas and his accomplices are accused of intercepting money by manipulating emails that appeared to be legitimate bank transfer requests, impersonating bank employees, and creating fake websites. He stole hundreds of millions of dollars through so-called 'email phishing.' According to the US Department of Justice, Abbas used a method called 'Business Email Compromise' (BEC), a type of email phishing crime, to steal money. BEC attacks involve hacking corporate email accounts and cleverly changing account numbers before inter-company transfers are made. Companies victimized by him include US law firms, financial institutions, and English Premier League football teams.

He also laundered the large sums of money he fraudulently obtained. In 2019, Abbas helped launder $14.7 million (about 2 billion KRW) stolen by North Korean hackers from a bank in Malta by moving the funds through banks in Romania and Bulgaria.

Earlier, the US Department of Justice announced in February last year that three North Korean hackers were indicted for attempting to steal over $1.3 billion in cash and virtual currency from banks and companies worldwide. It is known that these hackers relied on Abbas's network to launder the funds stolen from the Maltese bank.

The FBI stated, "Abbas is one of the world's biggest money launderers targeting victims in the US and internationally," adding, "He became famous through social media and flaunted enormous wealth obtained through various cybercrimes."

Before his arrest, Abbas's Instagram was filled with posts showcasing a luxurious lifestyle. He posted videos of throwing money bundles around and photos showing off luxury fashion on private jets. He also posted pictures posing in front of a lineup of Bentley, Ferrari, Mercedes-Benz, and Rolls-Royce vehicles.

In 2020, he posted, "I start my day eating sushi in Monaco, then book a helicopter to get facial treatment at the Dior spa in Paris, and end my day drinking champagne at Gucci." However, the posts and images he uploaded on SNS became clues for the investigation.

US investigators used photos from Abbas's birthday party and other details to cooperate with the United Arab Emirates (UAE) authorities and arrested him in Dubai, seizing cash, luxury cars, and computers.

Although he was actually a fraudster, he pretended to be a billionaire on social media. His extravagant lifestyle came to an end when he was arrested in June 2020. The LA court sentenced Abbas to 135 months in prison on the 7th and ordered him to compensate a total of $1.7 million to two confirmed victims so far.

Meanwhile, Abbas's Instagram account was quiet during his detention, but after his arrest, his followers increased by 500,000. The account is currently deleted.