The former CEO of the company behind the sketchy Escobar phones has pleaded guilty to fraud and money laundering.

In 2019, Olof Gustafsson offered the Escobar Fold 2 for just $399. However, it was just a repackaged Samsung Galaxy Fold that Gustafsson never actually delivered to most customers.

Tech Culture Mobile crime escobar Escobar Phone creator pleads guilty to scamming buyers, never delivered devices Sullying the good name of Pablo Escobar By Rob Thubron July 22, 2025 at 6:15 AM ...

Olof Kyros Gustafsson, 32, was the CEO of Escobar Inc., the company that sold the scam Escobar Phone. Now, Gustafsson faces up to 20 years in federal prison for fraud-related charges.