Emmanuel Nwude, former Director of Union Bank of Nigeria, is a notable advance-fee fraud artist. He is most famous for successfully defrauding a Brazilian man, Mr. Nelson Sakaguchi, a Director at Brazil's Banco Noroeste based in Sao Paulo, of $242 million, $191 million in cash and the remainder in the form of outstanding interest, between 1995 and 1998. His accomplices were Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe, along with the husband and wife duo, Christian Ikechukwu Anajemba and Amaka Anajemba, with Mr. Anajemba later being assassinated. After Nick Leeson's trading losses at Barings Bank, and the looting of the Iraqi Central Bank by Qusay Hussein, the crime was the largest in banking history.

Mr. Nwude impersonated Paul Ogwuma, then Governor of the Central Bank of Nigeria,and successfully convinced Mr. Sakaguchi to "invest" in a new airport in the nation's capital, Abuja, in exchange for a $10 million commission. The fraud was uncovered after a December 1997 joint board meeting, in which an official from Santander inquired about why a large sum of money, two-fifths of Noroeste's total value and half of their capital, was sitting in the Cayman Islands unmonitored.

Initially, because of bribery and corruption in the Nigerian judicial system, Emmanuel Nwude and his accomplices did not face any consequences. However, at the request of Olusegun Obasanjo, then President of Nigeria, the Economic and Financial Crimes Commission was created by the Nigerian Parliament in 2002. In February 2004, Amaka Anajemba, Emmanuel Nwude, Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe, with Mr. Anajemba deceased at this point, were all arrested and charged in the Abuja High Court with 86 counts of "fraudulently seeking advance fees" and 15 counts of bribery related to the case.They pleaded not guilty. They were immediately warned off of bribing the court staff by Abuja High Court judge Lawal Gumi, after he alleged that money was going around. The defense team assured that "nothing would be done to bring scandal to the administration of justice."Four Nigerian companies, Fynbaz, Emrus, Ocean Marketing and the African Shelter Bureau also faced charges and pleaded not guilty. In July 2004, judge Lawal Gumi threw out the case, claiming that since the crime did not take place in Abuja, he had no jurisdiction, and said that the proper place for the case would be the Lagos High Court. The defendants were immediately rearrested after stepping outside the courthouse and the case was moved to Lagos.

In 2005, Emmanuel attempted to bribe Nuhu Ribadu, then head of the commission, with $75,000 cash. He was charged in connection to the attempted bribery in addition to the attempted kidnapping of a prosecution witness.
In July 2005, Amaka Anajemba admitted to helping Mr. Anajemba and was sentenced to two and a half years in prison and ordered to repay $25.5 million.[/b]During Nwude's trial, there was a bomb scare that caused the courthouse to be evacuated.
[b]Emmanuel Nwude and Nzeribe Okoli pled guilty after testimony from Mr. Sakaguchi in hopes of a more lenient sentence, and were sentenced to 29 years in prison collectively, with Nwude receiving five concurrent sentences of five years, totaling 25, and Okoli receiving four. The entirety of Nwude's assets were confiscated to be returned to the victim and a $10 million fine was imposed to be paid to the Nigerian federal government.It was the first major conviction for the EFCC. He was released from prison in 2006.

Chief Emmanuel filed a lawsuit to recover his seized assets after he was released from prison, on the grounds that some of the assets were acquired before the offense was committed. He has already reclaimed at least $52 million. As of May 8, 2015, the matter is being heard by the Lagos Division of the Court of Appeal.

source :https://en.wikipedia.org/wiki/Emmanuel_Nwude

I guess he must have used his position as a bank director (whether former or present at that time) to influence the sales.

Hehehehehe.

Nah today?

Funny thing is that emmanuel spent less than a year in Jail and "recovered" 52 million dollars.

Just a shame!

Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

raayah:
Funny thing is that emmanuel spent less than a year in Jail and "recovered" 52 million naira.

Just a shame!

$52M...exactly why he never fled d country in d 1st place

Ok

Just finished watching Narcos.

Seriously Escobar was something else.

This also would make an equally great series if you ask me.

Sell airport? Like they say its only greedy people that get trapped in stuff like this.

Cunny man die, cunny man bury am.

On a serious note, our judiciary is wack.

Chai!

Chief Emmanuel filed a lawsuit to recover his seized assets after he was released from prison, on the grounds that some of the assets were acquired [b]before the offense was committed. [/b]He has already reclaimed at least $52 million.

Emmanuel Nwude.. The Owelle of Abagana.... Oke mmonwu igbo niile

I can remember the song Oliver d Coque did in his honor

Facee 2.0 . As far back as 1995!

menix:
Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

Brazil economy shaked because one compnay was defrauded?

You must have missed your drugs...

SLIDEwaxie:
Brazil economy shaked because one compnay was defrauded?

You must have missed your drugs...

I can bet u, u re jst in ur mid twenties else u won't write the above.

WOW! i must say: I'm impressed

menix:
Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

GBAM!!!

Reminds me of Mbe

menix:
Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

I have been laughing like a crazy man here in the office......... The dude sure knows his game.



.
So many guys in the Forex business benefitted from this deal. And gave the bureau De change business a boost.

Igbo kuwanu

scamming since 1960

menix:
Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

.

Hahaha,
d oyibo probably tot he don hama ontop a blak monkey,
and nt until he realised na him b mugu?

IGBO...number one for drugs, 419, human trafficking, human body parts selling, human sacrifice for money and all sorts of repugnant money making schemese.

Without IGBOs in Nigeria the reputation will be much better!

I pray for such clients.

That is a job well done.

menix:
Well. If I say. Am not proud of him, I am a big liar..

Call me names buh honour must b given to the brain whether positive or negative..

That dude broke Record, Brazil economy shaked during that period.

I dey tell you my brother. These guys inspired a whole generation of hustlers in this country. Especially Nwude and Anajemba. Heavy men.

hedonistic:


I dey tell you my brother. These guys inspired a whole generation of hustlers in this country. Especially Nwude and Anajemba. Heavy men.

I wan do apprenticeship for those guyz firm..

j1mmy:
IGBO...number one for drugs, 419, human trafficking, human body parts selling, human sacrifice for money and all sorts of repugnant money making schemese.

Without IGBOs in Nigeria the reputation will be much better!

Well you may be right but I prefer to even be a tree from igboland than come from where ever you come from.

J1mmy hating Igbo's seems to be ur destiny. Lmfao!

Viktor1983:


Well you may be right but I prefer to even be a tree from igboland than come from where ever you come from.

J1mmy hating Igbo's seems to be ur destiny. Lmfao!

Just make sure that tree does not take drugs to Indonesia, firing squad await IGBOs there - 2000 IGBOs killed there already.

http://naijagists.com/indonesia-has-executed-2008-igbos-convicted-of-drug-trafficking-family-raises-alarm-begs-fg-4-intervention/

The founder of this forum should do something about these tribal bigots fueling dis-unity in every thread. Most Nigerian rely on Nairaland for its information and allowing this forum to be messed up by the aforementioned set of people would be detrimental.

Cc: seun

Hahahaha i red bout it copple of years ago ...story still amuse me ..guy was smart die ooo

Logician:
The founder of this forum should do something about these tribal bigots fueling dis-unity in every thread. Most Nigerian rely on Nairaland for its information and allowing this forum to be messed up by the aforementioned set of people would be detrimental.

Cc: seun

what kaka bull$hit b dis ? Im from sweden and i think u should b posting whatevers on u mind ...if u dont like a post ...browssssssss away dont comment ..u know how many posts r made every day? What intelligent news post or scholar post has u made latley ?? U just a sorry azz complainer ..u life must b sooo empty ...

I agree the tribal shit should stop though ..we all bleed the same ..nobody is better than anyone else exept the confused hahahaha lmfao ..im sorry ..whatever im a swedish viking ..bring it on

Nina4u:
what kaka bull$hit b dis ? Im from sweden and i think u should b posting whatevers on u mind ... if u dont like a post ...browssssssss away dont comment ..u know how many posts r made every day? What intelligent news post or scholar post has u made latley ?? U just a sorry azz complainer ..u life must b sooo empty ...

Dear sweden idiot, I can only refer you to your post. Btw telling me you are from sweden was inconsequential. I hope my response is simple enough.