AI Voice Cloning Scam: Three Men Charged in $129M CEO Fraud 2026

Three men have been charged in the US with using AI to impersonate corporate CEOs and attorneys, stealing over $129 million from companies worldwide. The indictment, unsealed by the Department of Justice, alleges Jacob Soall, Sharon Hazan, and Guy Sheetrit used AI to alter voices and images to trick employees into wiring large payments.

The alleged fraud took place between 2024 and 2026, targeting employees at various companies. Soall and Hazan were arrested in Spain over the summer, while Sheetrit was arrested in the United Kingdom in September. The case highlights the growing threat of AI-powered impersonation in financial crimes.

How the AI Impersonation Scam Worked

According to the indictment, the men used AI to impersonate corporate executives and attorneys. They would contact employees, claiming to need help with sensitive financial transactions, and instruct them to get in touch with lawyers at a large international law firm.

The men then impersonated a lawyer at these firms and convinced employees to wire large amounts of money. With the help of AI, they altered and impersonated voices and images of executives and attorneys, making the requests appear legitimate.

• AI voice cloning was used to mimic executives' voices during phone calls.
• Image manipulation helped create fake video or photo evidence to support the requests.
• Law firm impersonation added a layer of credibility to the fraudulent instructions.
• Global targets included companies in the US and abroad, with losses exceeding $129 million.
• Arrests in Spain and the UK show international cooperation in tackling AI-enabled fraud.

Who Was Affected and How Much Was Stolen

The alleged fraud targeted a range of organizations. A hospital system headquartered in Missouri lost nearly $5 million, a Rhode Island bank lost about $2.7 million, and another company lost about $3 million. The total stolen amount exceeds $129 million, according to the DOJ.

The victims span multiple industries, indicating that no sector is immune to this type of attack. The use of AI to impersonate trusted figures makes it harder for employees to verify authenticity, especially in high-pressure situations.

Why This Case Matters for Businesses

This case underscores the evolving threat of AI-enabled fraud. Cybercriminals are increasingly using deepfakes and voice cloning to bypass traditional security measures. Employees are often the weakest link, and AI makes impersonation more convincing than ever.

Companies need to adopt robust verification protocols for financial transactions, especially those involving large sums. Training employees to recognize AI-generated content and implementing multi-factor authentication for wire transfers can help mitigate risks.

What to Watch Next

The prosecution of Soall, Hazan, and Sheetrit will be closely watched as a test case for AI-related fraud. It may set precedents for how such crimes are charged and prosecuted. Meanwhile, regulators and law enforcement are likely to ramp up efforts to combat AI-driven financial crimes.

Businesses should stay informed about emerging threats and update their security measures accordingly. The sophistication of AI tools means that even well-trained employees can be fooled, so layered defenses are essential. The background to this story is set out in Crypto: latest articles.