The Escobar Phone Scam Saga Has Finally Come To an End

Olof Kyros Gustafsson, former CEO of Escobar, pleaded guilty to fraud and money laundering charges related to the company's phone scam operation. The Department of Justice says Gustafsson took orders for phones branded with Pablo Escobar's likeness but failed to deliver products, instead transferring customer money for personal use.

When customers sought refunds, Gustafsson fraudulently referred payment processors to certificates of ownership as proof of delivery. The phones were Samsung devices with gold stickers. Gustafsson faces up to 20 years in prison and $1.3 million in restitution at his December 5th sentencing.

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