Three individuals have been indicted on wire fraud and aggravated identity theft charges for allegedly using artificial intelligence to impersonate corporate executives and attorneys, defrauding companies of approximately $129 million. The scheme targeted thousands of companies worldwide over an 18-month period, according to an indictment filed in U.S. District Court in New York.
The victims included hospital systems in Missouri and California, a bank in Rhode Island, a financial technology company in the United Kingdom, a mutual fund company in Massachusetts, and a pet food company in Florida. The defendants, identified as Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42, are also charged with money laundering. Their nationalities were listed as Spain, the UK, Israel, and the United Arab Emirates.
Prosecutors allege the trio, who used nicknames including "Rocky Balboa," "Superman Cash," and "Fat Boy," often targeted company accounting departments. They would send emails appearing to be from the CEO, requesting assistance with confidential financial transactions. In some instances, they coordinated phone or video calls where AI was used to replicate the CEO's voice and sometimes their image.
The defendants would then direct employees to contact an attorney, whom the group also impersonated. Soall, in particular, frequently impersonated UK attorneys and used a "handwritten script titled ‘Lawyer Call’" to maintain the facade during calls. The impersonated attorney would instruct the employee to wire large sums to overseas bank accounts.
These funds were subsequently converted into cryptocurrency in an attempt to obscure their origin before being distributed among the defendants and other participants. The FBI noted that the case highlights the evolving methods criminals use to leverage advanced technology for large-scale fraud.
“As criminals continue to weaponize emerging technologies, the FBI remains committed to rapidly adapting our capabilities to identify, investigate, and disrupt those who seek to harm New Yorkers and businesses operating in our communities,” said FBI Assistant Director in Charge James C. Barnacle, Jr. in a statement.
The three defendants were arrested between June and September. Hazan had a prior conviction in 2008 for conspiracy to commit bank fraud. If convicted, the maximum sentence for each charge, excluding aggravated identity theft, is 20 years imprisonment. Aggravated identity theft carries a maximum sentence of two years.