In a brazen display of technological deception, a global fraud ring used AI-powered voice cloning to impersonate top executives and swindle approximately $129 million from companies across several countries. Federal prosecutors in New York have charged three international operators in connection with the scheme, which targeted hospitals, banks, and multinational corporations over an 18-month period.
The U.S. Department of Justice unsealed an indictment last Thursday detailing the charges of wire fraud and aggravated identity theft. The defendants—Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42—allegedly operated from Spain, the UK, Israel, and the UAE, using online aliases like “Rocky Balboa,” “Superman Cash,” and “Fat Boy.” FBI agents arrested them between June and September, and prosecutors are also pursuing money laundering charges.
According to court documents, the scam was meticulously orchestrated. It began with phishing emails that appeared to come from chief executives, demanding urgent and confidential wire transfers. The criminals then arranged phone calls and video meetings, using AI to clone voices and even images of the executives. In some cases, they instructed employees to contact fake lawyers supposedly representing prestigious international law firms, adding an extra layer of legitimacy.
One defendant, Jacob Soall, reportedly relied on a script titled “Lawyer Call” to convincingly impersonate an attorney during calls with victims. The stolen funds were quickly converted into cryptocurrency to obscure their origins before being split among the conspirators.
The victims spanned a wide range of industries and geographies, including hospital systems in Missouri and California, a bank in Rhode Island, a financial technology firm in the UK, an investment management company in Massachusetts, and a pet food manufacturer in Florida. This breadth underscores the vulnerability of organizations that rely on voice-based verification for high-value transactions.
FBI Assistant Director in Charge James C. Barnacle Jr. emphasized the evolving nature of such threats. “This complex scheme demonstrates how rapidly advanced technology evolves into large-scale fraud when victims receive fraudulent calls from their own bosses,” he said in a statement. “Federal authorities continuously adapt their technical capabilities to counter these emerging threats and safeguard regional enterprises.”
Legal experts note that the charges carry severe penalties. Each wire fraud count carries up to 20 years in prison, and the aggravated identity theft charge adds a mandatory two-year sentence. The case highlights the growing sophistication of cybercriminals and the challenges law enforcement faces in tracking cross-border financial crimes.
Corporate defense and the road ahead
For companies, the scam serves as a stark reminder of the need for robust verification protocols. Cybersecurity experts recommend that organizations implement out-of-band communication checks—such as confirming wire requests through a different channel, like a phone call to a known number or an in-person meeting—before executing large transfers. Multi-person authorization for high-value transactions is also critical.
This incident also comes amid broader concerns about AI's dual-use nature. As voters across the U.S. push back on data centers and the expansion of AI infrastructure, the potential for misuse remains a pressing issue. The scam underscores the urgent need for stronger safeguards and international cooperation.
Meanwhile, prosecutors are working to trace and recover the stolen funds, though the use of cryptocurrency complicates these efforts. The defendants' legal representation has been unclear, with attorneys for Soall and Sheetrit not responding to requests for comment, and Hazan's counsel not yet identified.
For Latino businesses and communities, this case is a cautionary tale about the importance of cybersecurity. As more companies across the Americas and the diaspora adopt AI tools, the risk of similar scams grows. It's essential for organizations of all sizes to invest in robust security measures and employee training to recognize such sophisticated social engineering tactics.
The case also highlights the global nature of financial crime, which often crosses borders and requires coordinated international responses. As authorities continue to adapt, the hope is that such schemes become harder to execute, protecting businesses and their employees from the devastating financial and emotional toll of fraud.
