Indictment Charges Trio With Stealing $129 Million via AI Exec Impersonation
Prosecutors accuse three individuals of using artificial intelligence to mimic voices and faces of corporate leaders and lawyers to deceive accounting departments worldwide.
By Julia Novak ·
Federal prosecutors in New York have indicted three individuals for orchestrating a global fraud ring that used artificial intelligence to impersonate business leaders.
The indictment, filed Thursday in U.S. District Court, charges Jacob Soall, Sharon Hazan, and Guy Sheetrit with wire fraud and aggravated identity theft. Prosecutors say the group stole approximately $129 million from thousands of companies over eighteen months.
Victims included hospital systems in Missouri and California, a Rhode Island bank, a U.K. financial technology firm, a Massachusetts mutual fund, and a Florida pet food company. The defendants, who resided in Spain, the United Kingdom, Israel, and the United Arab Emirates, also face money laundering charges.
The scheme targeted accounting departments with emails that appeared to come from chief executive officers. These messages requested help with confidential financial transactions. The suspects then scheduled phone or video calls where AI tools mimicked the voice and sometimes the visual appearance of the executives.
During these calls, the impersonators instructed employees to contact attorneys at major law firms. The group was prepared to impersonate these legal professionals as well. Soall primarily played the role of a U.K. attorney. Court documents note he used a handwritten script titled “Lawyer Call” to maintain the illusion of a real lawyer during interactions.
The fake attorneys directed victims to wire large sums to bank accounts globally. The funds were converted into cryptocurrency to obscure their origin before being distributed among the suspects and other accomplices. The trio used nicknames including “Rocky Balboa,” “Superman Cash,” and “Fat Boy.”
James C. Barnacle, Jr., FBI Assistant Director in Charge, stated the case demonstrates how advanced technology can facilitate large-scale fraud. He added that the FBI is adapting its capabilities to identify and disrupt criminals who weaponize emerging technologies. If convicted, each defendant faces up to 20 years in prison for most counts, with aggravated identity theft carrying a two-year maximum sentence. The three were arrested between June and September. Hazan was previously convicted in 2008 for conspiracy to commit bank fraud in New York.
