US accuses trio of using AI to impersonate CEOs and lawyers to steal US$129 million

Three individuals have been indicted for utilizing artificial intelligence to impersonate corporate leaders and legal professionals in order to steal approximately US$129 million, prosecutors announced on Thursday. Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42, orchestrated their AI scheme over a span of over a year and a half, targeting numerous organizations worldwide, according to a recently filed indictment in a New York federal court.

Notable among their victims were health care institutions in Missouri and California, a financial institution in Rhode Island, a fintech firm in the United Kingdom, a mutual fund company in Massachusetts, and a pet food manufacturer in Florida. The suspects, hailing from Spain, the United Kingdom, Israel, and the United Arab Emirates, were additionally charged with money laundering. They were apprehended between June and September.

In 2008, Hazan had been found guilty in a New York court for conspiracy to commit bank fraud, as per the US Attorney's Office. Nicknamed "Rocky Balboa," "Superman Cash," and "Fat Boy," the trio commonly targeted accounting departments within the targeted companies. They dispatched emails that appeared to originate from the CEO, requesting assistance with a confidential financial transaction.

Furthermore, they conducted coordinated phone or video calls, employing AI to mimic the voices and, at times, the appearances of the CEOs. Following these calls, the defendants would advise the recipients to contact a lawyer from a prominent law firm, which the group was prepared to impersonate as well.

Soall's main role involved impersonating UK-based lawyers, utilizing a "Lawyer Call" handwritten script to enhance his credibility when conversing with and defrauding victims, according to the US attorney's office. The imitated lawyer would instruct the employee to transfer substantial sums to bank accounts situated across various countries.

These funds were subsequently converted into cryptocurrency to obscure their origins, and then distributed among the trio and other collaborators. FBI Assistant Director James C. Barnacle Jr. emphasized the case's significance in highlighting how advanced technology can be leveraged to perpetrate large-scale fraud. He stated that as criminals continue to exploit emerging technologies, the FBI remains dedicated to swiftly adapting its investigative capabilities to apprehend and disrupt those who aim to harm New Yorkers and businesses operating within their communities.

Each charge carries a maximum potential sentence of 20 years, except for aggravated identity theft, which carries a maximum sentence of two years, according to the attorney's office.