NEW YORK, Nov 6: Three individuals have been indicted in the United States for allegedly orchestrating an artificial intelligence-powered fraud scheme that impersonated corporate chief executives and lawyers to steal approximately USD 129 million from companies across the world.
Jacob Soall, 41, Sharon Hazan, 54, and Guy Sheetrit, 42, face charges of wire fraud, aggravated identity theft and money laundering, according to an indictment filed in a US District Court in New York.
Prosecutors alleged that the accused operated the scheme for more than 18 months, targeting thousands of businesses internationally through sophisticated impersonation techniques powered by artificial intelligence.
The alleged victims included hospital networks in Missouri and California, a bank in Rhode Island, a financial technology company in the United Kingdom, a mutual fund firm in Massachusetts and a pet food manufacturer in Florida.
According to court documents, the accused primarily targeted employees working in corporate accounting and finance departments. They allegedly sent emails pretending to be from company chief executives, requesting assistance with confidential financial transactions.
To make the deception more convincing, the accused reportedly arranged telephone conversations and video calls in which artificial intelligence technology was used to imitate the voices and, in some instances, the appearances of senior executives.
Employees were allegedly instructed to contact lawyers associated with major international law firms to complete the transactions. However, prosecutors said these supposed legal representatives were also impersonated by members of the group.
Once the employees were convinced that the instructions were genuine, they were directed to transfer substantial sums of money into bank accounts located in different countries.
Soall allegedly played a significant role in impersonating British attorneys. According to the US Attorney’s Office, he maintained a handwritten document titled “Lawyer Call”, which contained a prepared script to help him convincingly present himself as a legitimate legal professional during conversations with victims.
The indictment further alleged that the stolen funds were transferred through international financial channels before being converted into cryptocurrency to conceal their origins and make it difficult for investigators to trace the money.
The proceeds were subsequently distributed among the three accused and other individuals allegedly involved in the operation.
Prosecutors said the defendants used several aliases, including “Rocky Balboa”, “Superman Cash” and “Fat Boy”, while carrying out their activities.
The three accused were arrested between June and September. Authorities said they came from Spain, the United Kingdom, Israel and the United Arab Emirates.
Hazan also has a previous criminal conviction. According to the US Attorney’s Office, she was convicted in a New York court in 2008 for conspiracy to commit bank fraud.
The indictment remained under seal in online court records as of Thursday evening, meaning information about defence attorneys and other case proceedings was not publicly available at that time.
The US Attorney’s Office for the Southern District of New York did not immediately respond to a voicemail seeking further information about the case.
FBI Assistant Director in Charge James C. Barnacle Jr. said the investigation demonstrated how criminals were increasingly exploiting advanced technology to carry out large-scale financial fraud.
He said the agency remained committed to adapting its investigative capabilities to identify and disrupt criminal networks using emerging technologies to target businesses and individuals.
The case highlights the growing threat posed by AI-generated impersonation, particularly through deepfake audio and video. Such technologies can reproduce a person’s voice and facial appearance with increasing accuracy, making it difficult for employees to distinguish between genuine instructions and fraudulent communications.
Corporate payment fraud traditionally involves techniques such as phishing emails, compromised business accounts and false invoices. However, the use of AI-generated voices and visual impersonations introduces another layer of deception by allowing criminals to create the appearance of direct communication with senior executives.
This can be particularly effective in organisations where employees routinely receive urgent payment instructions from senior management or external legal representatives.
The alleged scheme also demonstrates how attackers can exploit established corporate procedures. By combining fraudulent emails with convincing telephone and video conversations, criminals can create multiple layers of apparent verification before requesting financial transfers.
The use of cryptocurrency to move and distribute the alleged proceeds further complicated the financial trail, according to prosecutors.
Cybersecurity specialists have increasingly warned companies about business email compromise and executive impersonation scams. These attacks can cause substantial losses because they exploit trust, authority and the pressure to complete confidential transactions quickly.
Businesses are being encouraged to introduce stronger verification procedures for high-value payments, particularly when instructions are received through email, telephone or video conferencing platforms.
Independent confirmation through previously verified contact details, multiple approval requirements and transaction monitoring can help prevent employees from acting on fraudulent instructions.
Companies are also being advised to train their employees to recognise deepfake-related warning signs and avoid relying solely on a person’s voice or appearance to establish identity.
Under US law, wire fraud and money laundering carry maximum potential prison sentences of up to 20 years each, while aggravated identity theft carries a mandatory additional two-year prison term upon conviction, according to prosecutors.
The charges remain allegations, and the defendants are presumed innocent unless proven guilty in court.
The investigation underscores the increasing use of artificial intelligence in financial crimes and the challenges facing law enforcement agencies as criminals adopt more sophisticated digital tools.
With businesses relying heavily on online communication and digital payment systems, authorities are warning that conventional security checks may no longer be sufficient to protect organisations against increasingly realistic impersonation attempts.