Olof Kyros Gustafsson, former CEO of Escobar Inc., pled guilty to fraud and money laundering. Gustafsson and the company took customer orders for phones, but failed to deliver products, laundering money for personal use. Tech reviewer Marques Brownlee revealed that the Escobar Fold 2 was merely a Samsung Galaxy Fold. The company also marketed other questionable products, issuing misleading 'Certificates of Ownership' instead of items. Refund requests from customers were fraudulently denied using deceptive shipping proof.
Olof Kyros Gustafsson and Escobar, Inc. took orders for phones and other products but failed to deliver them, instead laundering customer funds for personal use.
The Escobar Fold 2 phone unboxed by tech reviewer Marques Brownlee was simply a Samsung Galaxy Fold with a gold sticker, raising questions about product authenticity.
Instead of actual products, customers received 'Certificates of Ownership' and when seeking refunds, Gustafsson provided misleading proof of shipment to deny requests.
Gustafsson mailed promotional materials instead of products and fraudulently referred refund requests to mailing records to deny the customers' claims.
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