Escobar Fold Scam Con Artist Faces Jail Time
Olof Gustafsson, creator of the Escobar Fold phones and related products, has pleaded guilty to multiple fraud and money laundering charges, facing up to 20 years in prison and $1.3 million in restitution. The scam involved sending fake products or merchandise instead of the paid-for foldable phones, flamethrowers, and gold iPhones, making refunds difficult. Gustafsson's scheme defrauded victims out of over $300,000, and he was extradited from Spain to the US for sentencing.