Remember the Escobar Phone? The CEO who branded a smartphone with the infamous drug lord’s name has admitted he defrauded consumers. According to the Courthouse News Service, the former head of Escobar Inc., Olof Gustafsson, pleaded guilty on Friday to six counts of wire and mail fraud and money laundering. Although Pablo Escobar was famously killed in 1993, the 32-year-old Gustafsson saw an opportunity to license Escobar's name to sell various products, including an Escobar-branded smartphone. However, he never delivered the device to paying customers. Meanwhile, Gustafsson pocketed the money. A court document shows that Gustafsson wired more than $307,000 between December 2019 and June 2020. #pabloescobar #pabloescobarphone #gustafsson #technews