Federal prosecutors in the Southern District of New York have unsealed an indictment charging three foreign nationals with running an elaborate international scam that utilized artificial intelligence to impersonate corporate executives and major law firm attorneys. The operation allegedly targeted thousands of companies worldwide, successfully tricking employees into wiring at least $129 million for confidential deals that never existed. Once the funds reached bank accounts controlled by the conspirators, they were converted into cryptocurrency and divided among the participants.
Key takeaways
- Three foreign nationals face seven criminal counts each, including wire fraud and money laundering conspiracy.
- The scheme used AI voice and video cloning to impersonate CEOs and lawyers from major global firms.
- Victims included hospitals, banks, and businesses across multiple countries, resulting in at least $129 million in losses.
- Stolen funds were funneled through bank accounts and converted into cryptocurrency by the conspirators.
Anatomy of a Multimillion-Dollar Deception
The indictment outlines a conspiracy operating from at least July 2024 through February of this year. Fraudsters specifically targeted accounting and finance employees who possessed the authority to authorize large wire transfers. The initial contact typically arrived via electronic signature services like DocuSign, carrying a message from a supposed chief executive requesting assistance on a secret financial transaction under a strict nondisclosure agreement. Targets were subsequently directed to contact a fake attorney, often borrowing the real identity of a lawyer working in the European office of a top-tier global law firm.
During subsequent phone and video calls, the conspirators deployed artificial intelligence tools to mimic the voice and physical appearance of real executives and attorneys. One of the defendants, Jacob Soall, allegedly focused on impersonating United Kingdom-based lawyers while relying on a handwritten script to invoke strict confidentiality and insider-trading rules. This pressure tactic successfully discouraged targeted employees from discussing the supposed acquisitions with their colleagues. Meanwhile, co-defendants Sharon Hazan and Guy Sheetrit allegedly managed the complex money laundering operations, converting illicit proceeds into crypto.
Impact Across Multiple Industries
Although the unsealed charging documents keep the victim organizations anonymous, the disclosed losses span a diverse array of sectors globally. A Missouri hospital system lost approximately $4.83 million in November 2024, while a Rhode Island bank lost $2.68 million that same month. Additional victims included a California hospital system, a United Kingdom fintech company, a Massachusetts mutual fund company, and a Florida pet food enterprise. One major New York investment bank managed to thwart a $2.85 million fraudulent transfer when its back-office team stopped the wire before execution.
Law enforcement authorities have apprehended all three primary defendants internationally. Jacob Soall, 41, was arrested in Spain on June 17, while Sharon Hazan, 54, was arrested in Spain on August 5. Guy Sheetrit, 42, was taken into custody in the United Kingdom on September 7. Extradition requests are currently pending. Prosecutors noted that Hazan previously sustained a bank fraud conspiracy conviction in the same New York court back in 2008. The defendants face severe penalties if convicted, with individual wire fraud and money laundering counts carrying maximum sentences of 20 years, alongside mandatory additions for aggravated identity theft.
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