Olof Gustafsson, CEO of Escobar Inc., has pleaded guilty to multiple fraud and money laundering charges related to a tech scam involving fake products like gold-plated foldable phones, flamethrowers and “Escobar cash.” Many customers never received what they paid for and the scam used fake shipping records to block refunds. Gustafsson now faces up to 20 years in prison per fraud charge and has agreed to pay up to $1.3 million in restitution. Sentencing is set for December 5.
Source: Android Authority
