Overview
- The court sentenced Olof Kyros Gustafsson to 48 months in federal prison, ordered $1,300,193 in restitution, imposed a $25,000 fine, and required forfeiture of crime proceeds.
- Prosecutors say Gustafsson ran Escobar Inc. from 2019 to 2023 using the Pablo Escobar persona to market non‑existent products such as an “Escobar Flamethrower,” gold foldable phones and a physical cryptocurrency called Escobar Cash.
- To build demand he sent gold‑foil Samsung phones to tech reviewers while ordinary buyers never received items they paid for.
- When customers sought refunds Gustafsson mailed certificates of ownership, books or promotional materials and used those mailings as proof to payment processors to block returns, according to sentencing documents.
- The conviction follows Spain’s 2023 extradition, Gustafsson’s July 2025 guilty plea on fraud and money‑laundering charges, and traced proceeds that were moved through accounts in the United States, Sweden and the United Arab Emirates with victims likely to seek recovery through forfeiture and restitution.