Three Indicted in $129 Million AI Fraud Scheme Impersonating of Global CEOs and Lawyers
Federal prosecutors charge three individuals for using AI to mimic corporate executives and attorneys to steal over $129 million in a global fraud operation.
POLICY WIRE — New York, USA — Federal prosecutors announced Thursday that three individuals have been charged with wire fraud and aggravated identity theft following a massive scheme involving artificial intelligence to impersonate corporate leaders and siphon approximately $129 million.
According to an indictment filed in the U.S. District Court in New York, Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42, allegedly targeted thousands of businesses worldwide over a period lasting more 18 months.
The victims of this sophisticated operation included a bank in Rhode Island, a mutual fund firm in Massachusetts, a financial technology business in the United Kingdom, hospital systems in both California and Missouri, and a pet food brand in Florida.
The indictment notes that the trio, who originate from Spain, the United Kingdom, Israel, and the United Arab Emirates, also face charges of money laundering.
The suspects were apprehended between June and September of this year. Legal records indicate that Hazan has a prior 2008 conviction in a New York court for conspiracy to commit bank fraud.
Court documents reveal that the defendants—who reportedly use aliases such as “Rocky Balboa,” Superman Cash, and “Fat Boy”—focused their efforts on the accounting departments of their target organizations.
The group would typically send emails appearing to be from a CEO requesting assistance with a sensitive and confidential financial transaction.
To solidify the deception, they coordinated phone or video calls where they utilized AI technology to replicate the voice and sometimes the physical likeness of the executive.
Once trust was established, the defendants instructed employees to contact a specific attorney at a major law firm, a role the group was also prepared to fake.
Prosecutors allege that Soall frequently took the role of UK-based attorneys, using a specialized handwritten script labeled “Lawyer Call” to maintain his persona during conversations with defrauded victims.
The impersonated lawyers then directed employees to transfer substantial sums to international bank accounts. The stolen funds were allegedly converted into cryptocurrency to obscure the audit trail before being distributed among the defendants and their associates.
James C. Barnacle, Jr., an Assistant Director in Charge for the FBI, stated that the case highlights how cutting-edge technology is being weaponized for large-scale crime. He emphasized that the FBI is dedicated to evolving its investigative tactics to identify and disrupt those targeting businesses and the public.
If found guilty, the defendants face a potential sentence of 20 years per count, while the charge of aggravated identity theft carries a maximum penalty of two years.
Reporting by Policy-Wire (PW)
