Olof K Gustafsson's Trial on Fraud Charges Begins in the USA
Trial of Olof K Gustafsson for fraud and money laundering begins in the U.S.
Key Points
- • Gustafsson faces 115 charges including fraud and money laundering.
- • Trial commenced in Los Angeles after his extradition from Spain.
- • He is linked to Escobar Inc., accused of selling fake products.
- • Gustafsson claims control over Escobar family bank accounts.
Olof K Gustafsson, a Swedish national, is now facing a high-profile trial in the United States, where he has been indicted on 115 charges, including fraud and money laundering. The proceedings commenced on May 20, 2025, in Los Angeles following Gustafsson's extradition from Spain in March.
The U.S. Department of Justice alleges that Gustafsson, who co-founded Escobar Inc, engaged in a global fraud scheme that exploited the name of infamous drug lord Pablo Escobar. His company is accused of marketing nonexistent products, such as flamethrowers, mobile phones, and cryptocurrency, under Escobar's name. Prosecutors claim these products were deceptive and that customers were left with nothing after making purchases.
In interviews, Gustafsson has controversially claimed to manage bank accounts tied to the Escobar family fortune, despite the allegations. If convicted on all counts, he faces an extraordinary sentence, potentially amounting to 2,000 years in prison. In past attempts to delay his trial, he sought asylum in Spain and requested extradition to Sweden; however, these were turned down by the Stockholm District Court, underscoring the seriousness of his situation.