Jacob Soall, Sharon Hazan, and Guy Sheetrit were charged with using AI to impersonate executives and attorneys in a scheme prosecutors say stole more than $129 million from companies worldwide.
Three foreign nationals were arrested and charged with using AI to impersonate corporate CEOs and attorneys to steal more than $129 million, according to an indictment newly unsealed by the US Department of Justice.
Jacob Soall, Sharon Hazan, and Guy Sheetrit were charged with conspiracy to commit wire fraud, various counts of money-laundering conspiracy and aggravated identity theft. Each defendant faces seven counts, including two counts of aggravated identity theft and two of money laundering, along with one count each of wire fraud, wire fraud conspiracy and money laundering conspiracy. The maximum sentence is 20 years on each count except aggravated identity theft, which carries two years. The charges are accusations, and the defendants are presumed innocent unless proven guilty.
According to the US Attorney’s Office for the Southern District of New York, the men used AI to alter and impersonate the voices and images of executives and attorneys at various companies to convince employees to send large payments. They would act as a corporate executive, telling employees they needed help with sensitive financial transactions, then instruct employees to get in touch with lawyers at a large international law firm. The men would then impersonate a lawyer at these firms and have employees wire a large amount of money.
The alleged fraud took place between 2024 and 2026. The indictment lists victims including a Missouri hospital system, which lost $4,829,580, and a Rhode Island bank, which lost $2,684,580. A California hospital system lost $2,968,497, a UK financial technology company $11,578,474, a Massachusetts mutual fund company $4,639,918 and a Florida pet food company $5,242,747. Money went to accounts in the United States, Spain, Portugal, Greece, the United Arab Emirates, Singapore, Austria, Slovakia and China. The defendants converted it into cryptocurrency to hide its source and split it among themselves, according to the indictment.
Soall and Hazan were arrested in Spain over the summer, while Sheetrit was arrested in the United Kingdom in September. Soall was arrested in Spain on June 17, Hazan in Spain on Aug. 5 and Sheetrit in the United Kingdom on Sept. 7, the office said. Extradition requests for all three are pending.
US Attorney Jamie McDonald said: "As alleged, Jacob Soall, Sharon Hazan, and Guy Sheetrit abused groundbreaking super intelligence technology to impersonate real people and deceive corporate executives into sending them and their co-conspirators approximately $129 million." The US Attorney’s Office refers to the technology as "super intelligence."
FBI Assistant Director in Charge James C Barnacle Jr said: "The alleged scheme orchestrated by Soall, Hazan, and Sheetrit demonstrates how the use of advanced technology can be exploited to commit large-scale fraud."
The case illustrates how AI can be used to mimic voices and images of executives and attorneys to convince employees to authorize large wire transfers. Prosecutors say the stolen funds were converted into cryptocurrency in an attempt to conceal the source, ownership, and control of the proceeds and distributed amongst themselves and their co-conspirators.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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