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AI Deepfake Scheme Leads to $129 Million Fraud Indictment

AI Deepfake Scheme Leads to $129 Million Fraud Indictment

First seen 6 Nov 2026, 09:13 UTC • •
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ThreatCluster AI
ThreatCluster •November 6, 2026 at 18:48 UTC
  • •Three men indicted for using AI deepfakes to steal $129 million from companies.
  • •Victims included hospitals, banks, and financial firms across multiple countries.
  • •The defendants face up to 20 years in prison for their fraudulent activities.

Three men have been indicted for using artificial intelligence to impersonate CEOs and lawyers, stealing $129 million from various companies worldwide. Jacob Soall, Sharon Hazan, and Guy Sheetrit targeted employees at firms, primarily in accounting departments, convincing them to wire large sums for fake transactions. The scheme ran from July 2024 to February 2026, affecting multiple organizations including hospital systems and financial institutions. The defendants used AI to create deepfakes of executives and attorneys, often directing victims to wire funds to accounts they controlled. The funds were then laundered through various international accounts and converted into cryptocurrency. All three have been arrested and face charges including wire fraud and money laundering, with maximum sentences of up to 20 years. The case highlights the growing threat of AI technology being weaponized for fraud.

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Timeline

2024-07-01
Scheme began
The fraudulent activities reportedly started in July 2024, targeting thousands of companies globally.
Cyberscoop
2026-02-28
Scheme ended
The fraudulent scheme is reported to have continued until February 2026, defrauding numerous companies.
Cyberscoop
2026-11-06
Indictment unsealed
US authorities announced the indictment of Jacob Soall, Sharon Hazan, and Guy Sheetrit for a $129 million fraud scheme using AI deepfakes.
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Common questions

What companies were affected?
Victims included hospital systems in Missouri and California, a bank in Rhode Island, a financial technology company in the UK, and a mutual fund company in Massachusetts.
What charges do the defendants face?
The defendants face charges including wire fraud, aggravated identity theft, and money laundering, with potential sentences of up to 20 years.
How did the fraud scheme operate?
The scheme involved impersonating CEOs and attorneys using AI deepfakes to trick employees into wiring large sums of money for fake transactions.