Scammers allegedly used artificial intelligence to impersonate executives and lawyers, convincing employees at hospitals, banks, and other businesses to wire at least $129 million for nonexistent deals.
The U.S. Attorney's Office for the Southern District of New York said the scheme targeted thousands of companies worldwide.
Here's what to know
Defendants Jacob Soall, Sharon Hazan, and Guy Sheetrit face fraud, identity theft, and money laundering charges in an indictment made public in New York's Southern District, according to Gizmodo.
Prosecutors said participants allegedly received shares of proceeds converted into cryptocurrency. Before that conversion, they said the money had been sent to conspirators' accounts.
The scheme often began with an email sent through an electronic signature service, including DocuSign, presented as a message from the employee's CEO. The targets generally worked in accounting and had authority to approve large transfers.
Employees were asked to sign nondisclosure agreements before discussing what they were told were confidential transactions.
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During subsequent calls, conspirators allegedly used AI to imitate executives' voices and, in some cases, their appearance. Employees were then directed to supposed attorneys who were impersonating real lawyers at major firms.
Prosecutors say Soall kept a handwritten "Lawyer Call" script that used secrecy requirements and insider-trading warnings to deter employees from consulting colleagues.
More background
A Missouri hospital system lost about $4.83 million in November 2024, while a California hospital system lost roughly $2.97 million in December 2024, prosecutors said. A Rhode Island bank allegedly lost about $2.68 million in November 2024.
Other reported victims included a United Kingdom financial technology company that lost about $11.58 million in March 2025 and a Florida pet food company that lost about $5.24 million in June 2025. The charging documents do not name the businesses.
Beyond the concerns about security and the potential for misuse, AI requires electricity for computing and can consume substantial amounts of water for cooling, pressuring energy and water resources.
What's being done?
Extradition requests are pending. Authorities took Sheetrit into custody in the United Kingdom and arrested Soall and Hazan in Spain.
Each defendant faces seven counts, including wire fraud and conspiracy to commit wire fraud, aggravated identity theft, and money laundering and conspiracy to commit money laundering.
If convicted, sentencing would be up to a judge. The maximum prison term for each wire fraud or money laundering offense is 20 years, and each aggravated identity theft count carries a two-year term.
During an October 2024 attempt against a major New York investment bank, an employee authorized roughly $2.85 million, but the bank's back office blocked the wire, prosecutors said.
"SI technology offers tremendous potential. But the public should recognize that there are some who seek to use this emerging technology to pursue criminal goals," U.S. Attorney Jamie McDonald said, using "SI" to refer to "super intelligence."
Where can I learn more?
Scammers have also used AI to target individuals and retailers. These stories cover fake vehicle listings, voice-cloning scams, fabricated receipts, and deceptive online merchandise sales.
• Scammers used AI-generated listings to sell a man a $36,000 Toyota that never existed.
• The FBI says AI-linked scams cost Americans $893 million as voice-clone calls spread.
• A Texas store spotted an AI-generated receipt after a $600 designer purse refund.
• In the U.K., AI pity scams use fake injured veterans to sell merchandise.
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