CEO-spoofing scammers indicted for using AI to help steal more than $100 million
Three men have been indicted for scamming companies out of more than $100 million using AI to impersonate executives and lawyers.
The Justice Department has indicted three men accused of scamming companies out of more than $100 million with help from artificial intelligence. Jacob Soall, Sharon Hazan and Guy Sheetrit allegedly pretended to be company CEOs or lawyers and tricked lower-level employees into sending large payments to bank accounts they controlled.
Arrests and Charges
Soall and Hazan were arrested in Spain this summer while Sheetrit was detained in the U.K. in September. The Justice Department confirmed extradition requests for all three men are pending. They face multiple charges including money laundering, aggravated identity theft and wire fraud, with potential sentences of up to 104 years in prison.
The three used artificial intelligence 'to impersonate real people and deceive corporate executives into sending them and their co-conspirators approximately $129 million.'
The AI Scam Method
According to prosecutors, the conspiracy ran from 2024 to 2026 and involved using AI to spoof the voices and images of corporate executives. The suspects would contact employees claiming to need help with confidential financial transactions, mimicking the CEO's voice or image. They then directed employees to speak with lawyers they impersonated using AI.
The stolen funds, totaling millions from various companies including hospitals, banks and tech firms, were wired to accounts across the U.S., Europe, the UAE and China before being converted to cryptocurrency. Soall typically impersonated lawyers, Hazan laundered the funds, and Sheetrit participated in the CEO impersonations.
Law Enforcement Response
Senior FBI official James Barnacle emphasized how criminals are exploiting emerging technologies. 'The alleged scheme demonstrates how the use of advanced technology can be exploited to commit large scale fraud,' he stated. The FBI has urged other potential victim companies to come forward.
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