Join getAbstract to access the summary!

The Fall of the Billionaire Gucci Master

Join getAbstract to access the summary!

The Fall of the Billionaire Gucci Master


5 min read
3 take-aways
Audio & text

What's inside?

One fraudster’s story pulls back the curtain on the world of “business email compromise” scams.

Editorial Rating



  • Eye Opening
  • Background
  • Concrete Examples


The FBI estimates that, in 2020, fraudsters played more than 20,000 “business email compromise” (BEC) hustles in the United States, making away with $1.8 billion. In this enthralling investigative report, journalist Evan Ratliff examines the shadowy world of BEC thefts against the backdrop of the lavish life of Ramon Abbas, who amassed a multimillion-dollar bankroll from his cyber thefts. Ratliff expertly maps out how BEC scams work, noting the snares corporations typically fall into. Executives looking to understand BECs will find a shocking story of deception in this noirish report.


Ramon Abbas is one face of the global “business email compromise” (BEC) scams that target corporate entities.

In 2019, Ramon Abbas was a social media influencer who lived like a king in Dubai. The man identified on Instagram as “Ray Hushpuppi” to his two million followers paraded his stratospheric wealth at posh locations, wearing designer apparel and driving luxury cars. However, the source of his riches was BEC theft. 

BECs first arose in 2015 and have since proliferated. The crime is the largest online theft perpetrated in the United States, accounting for 40% of all cyberattacks. Experts note that approximately...

About the Author

Evan Ratliff is a journalist at Bloomberg.

Comment on this summary