Three Indicted for Using AI to Steal $129 Million by Impersonating Executives

Federal prosecutors announced Thursday the indictment of Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42, on charges of wire fraud, aggravated identity theft, and money laundering. Over more than a year and a half, the trio allegedly targeted thousands of companies worldwide. They would send accounting departments emails purporting to come from the company's CEO, requesting help with a confidential financial transaction. They then arranged follow-up phone or video calls in which they used AI to mimic the executive's voice and, in some cases, their visual appearance. Employees were next directed to contact an attorney at a major law firm — a role the defendants were also prepared to impersonate. Soall, who mainly impersonated U.K. lawyers, reportedly used a handwritten script called "Lawyer Call" to sound credible. Victims were then instructed to wire large payments to overseas bank accounts; the funds were subsequently converted into cryptocurrency to conceal their origins. Victims included hospital systems in Missouri and California, a Rhode Island bank, a UK fintech company, a Massachusetts mutual fund firm, and a Florida pet food company. The three defendants, with ties to Spain, the U.K., Israel, and the United Arab Emirates, were arrested between June and September. FBI Assistant Director in Charge James C. Barnacle Jr. said the case illustrates how criminals are weaponizing emerging technologies to commit large-scale fraud. If convicted, the defendants face up to 20 years on most charges.