Three foreign nationals were arrested and charged with using AI to impersonate corporate executives and attorneys to steal over $100m, according to a newly unsealed indictment by the US Department of Justice.
Three foreign nationals have been arrested and charged with using AI to impersonate corporate CEOs and attorneys in a scheme that allegedly stole over $100 million. According to an indictment unsealed by the US Department of Justice, Jacob Soall, Sharon Hazan, and Guy Sheetrit used AI to alter and impersonate the voices and images of executives and attorneys at various companies. They targeted employees with fake requests for financial transactions, directing them to contact lawyers at a large international law firm. The men then impersonated these lawyers to convince employees to wire large sums of money. Soall and Hazan were arrested in Spain over the summer, while Sheetrit was arrested in the United Kingdom in September. The alleged fraud occurred between 2024 and 2026.
The men stole more than $129 million from companies worldwide, including nearly $5 million from a Missouri hospital system, $2.7 million from a Rhode Island bank, $3 million from a California hospital system, $4.6 million from a Massachusetts mutual fund, $5 million from a Florida pet food company, and over $11 million from a UK tech company. The stolen funds were wired to bank accounts in multiple countries, including the US, Spain, Portugal, Greece, the UAE, Singapore, Austria, Slovakia, and China. After the transfers, the men converted the money into cryptocurrency to conceal its source and distributed it among themselves and co-conspirators.
Why it matters
The case highlights the growing use of AI in large-scale financial fraud, affecting businesses and institutions worldwide.
This section reflects Dumpling editorial interpretation and is provided for context only.
What to watch
The outcome of the legal proceedings against the three men and how the stolen funds are recovered.
This section reflects Dumpling editorial interpretation and is provided for context only.