| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by parzdor(m): 10:30am On Apr 22, 2015 |
lolss India oya make I read how e appon |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by udemedia1: 10:30am On Apr 22, 2015 |
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| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by beekaymee(m): 10:30am On Apr 22, 2015 |
Dis stupid Indians Don start. Instead make he go India dey take care of him camel or elephant him dey there dey do fraud mtchew ………… asa palapala  |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Faremisodeeq(m): 10:30am On Apr 22, 2015 |
So indians are also fraudstars this is interesting 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Abbott(m): 10:34am On Apr 22, 2015 |
What's up with all these marketers, advertisers and spammers on Nairaland...flooding threads with their nonsense?! |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Nobody: 10:35am On Apr 22, 2015 |
all of a sudden EFCC is working!!!!!!!! eye service things 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by beekaymee(m): 10:35am On Apr 22, 2015 |
astana1:
GEJ administration marginalized AND SACKED PEOPLE TO SET OUT HIS TRIBALISTIC AGENDA
Igbo man Ike Nkeremandu, Deputy Senate President
Igbo man Emeka Ihedioha, Deputy Speaker
(Imagine that in a country with 6 geopolitical zones, one occupies the two of the 4 major National Assemby leadership positions!!)
Igbo man Pius Ayim, Secretary to the Federal Government
igbo man Godwin Emefiele is the governor of the central bank of Nigeria
Igbo woman, Finance Minister and Co-ordinating Minister for the Economy
Igbo woman petroluem Minister
Igbo man Nebo, Power Minister
Igbo man Minister of aviation
Printing and Minting - Igbo
HEAD OF DSS -Igbo
MINISTER OF Health - Igbo
Jonathan removed other tribes from head of parastatals and put Igbos there but that would be addressed now. Bureau of statistics was filled up with Igbos.
Even the Hausas/Fulanis in military have never done this above show of shame and pure tribalism. And Igbos were quiet all through that administration cos others were marginalised. DUDE SHUT D FVYCK UP AND GET OUT OF NAIRALAND AND DON'T CAUSE TRIBAL RIVALRY. MTCHEW……………… ASA PALAPALA 3 Likes |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by portaableg(f): 10:36am On Apr 22, 2015 |
Every Tom, Dick, and Harry doing what they feel like in Nigeria. #Changeiscoming
And some A-H just saying B-S on Nairaland. |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Dejitops: 10:38am On Apr 22, 2015 |
A taste of things to come Nigeria bewarnd[quote author=SleekyP post=32977656]Bashir Abdullahi, a witness of the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of Patrick Fernandez, an Indian businessman before a Federal High Court in Lagos, on Tuesday gave graphic details of how the accused defrauded some Nigerian banks to the tune of N32 billion.
Fernandez is standing trial alongside three of his companies on a 56 count-charge of fraud.
The witness, who is a former investigator with the EFCC, told the court that the commission learned of the fraud when one of the banks contacted the agency’s Financial Intelligence Unit.
According to him, in July 2008, he was assigned to investigate the case of suspicious financial activities involving Fernandez and his companies.
The affected banks, he said, were Zenith Bank, Afribank, Intercontinental Bank, Union Bank and Wema Bank. His investigations, he said, revealed high volume transactions from one account to another, which he said were suspected to be fraudulent.
Abdullahi said: “In our findings, we discovered that the accused was involved in cheque-kitting and round tripping. It is also known as Lazy Susan, a business model.”
Lazy Susan, he said, involves members of a business group transferring money from one sister company to another without selling any commodity, using money obtained from other banks.
He said as at September 2007, the accused had less than N2million in his account. “The volume of transaction was also minimal, starting with N20million. Within the same month, it rose to N600million. The volume of transaction also sky rocketed to billions of naira within just three months,” he said.
Abdullahi said the transactions involved the use of “suspended cheques” which did not go through the clearing house initially.
“If he brings a cheque, credit will be given to him immediately without going through clearance. Because he has a cheque discounting facility, if he brings N1billion cheque, they will give him N800million,” Abdullahi said.
He said Wema Bank, for instance, discovered that it allegedly lost N23billion to the activities of Fernandez and his companies.
On how the fraud was perpetrated, he said a high ranking staff of Wema Bank aided the fraudulent transactions.
The Wema Bank insider, the witness said, “was suppressing the cheque”, such that when other banks asked whether there is money in Fernandez’s account, the official would answer in the affirmative. “All the banks will ask Wema Bank staff, is there N5billion in his account, and he will say yes,” said the witness.
Abdullahi said the accused person claimed to be involved in oil and gas business which he said was “cash-intensive” and therefore needed to move money from one bank to the other.
He said the bubble burst when the banks, at the clearing house, discovered that “they were clearing the same cheque”.
Under cross examination by defence counsel, James Ocholi (SAN), Abdullahi said he did not know the banks’ account officers or branch managers who dealt with Fernandez.
He said the defendant’s companies were duly incorporated, and that his accounts were opened through “traditional” means.
He added Fernandez was considered high net-worth individual and so the banks took him for his words.
“If they had not taken him for his |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Skywalker5(m): 10:42am On Apr 22, 2015 |
shachris03:
all na because he's white, So he is considered higly networth and not worthy of scam. How can you take someone for his words for a 23 billion naira cheque? You call Indians white? 2 Likes |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by sweatholder(m): 10:42am On Apr 22, 2015 |
hmmm this is bad, after they will say we are the worst scams ever,hope my money isnt among that ooo 
|
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by timunstopable: 10:43am On Apr 22, 2015 |
ARE YOU DAT JOBLESS You have turned to a mumu robot pls seun abeg do something about this guys spamming threads now astana1:
GEJ administration marginalized AND SACKED PEOPLE TO SET OUT HIS TRIBALISTIC AGENDA
Igbo man Ike Nkeremandu, Deputy Senate President
Igbo man Emeka Ihedioha, Deputy Speaker
(Imagine that in a country with 6 geopolitical zones, one occupies the two of the 4 major National Assemby leadership positions!!)
Igbo man Pius Ayim, Secretary to the Federal Government
igbo man Godwin Emefiele is the governor of the central bank of Nigeria
Igbo woman, Finance Minister and Co-ordinating Minister for the Economy
Igbo woman petroluem Minister
Igbo man Nebo, Power Minister
Igbo man Minister of aviation
Printing and Minting - Igbo
HEAD OF DSS -Igbo
MINISTER OF Health - Igbo
Jonathan removed other tribes from head of parastatals and put Igbos there but that would be addressed now. Bureau of statistics was filled up with Igbos.
Even the Hausas/Fulanis in military have never done this above show of shame and pure tribalism. And Igbos were quiet all through that administration cos others were marginalised. |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Nobody: 10:44am On Apr 22, 2015 |
Skywalker5:
You call Indians white? yeah, to the average Nigerian they are. 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by loomer: 10:46am On Apr 22, 2015 |
The way dem de defraud Nigerian banks, na how much go remain for vault na? |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Mekybliss(f): 10:46am On Apr 22, 2015 |
Busted!!!!! I hope they will treat him the way his country would treat a nigerian  |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Missmossy(f): 10:47am On Apr 22, 2015 |
 Jeez! |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Nobody: 10:47am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. am in owerri, contact me using this details below: Mikketech@gmail.com 08039710459 |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by omonnakoda: 10:47am On Apr 22, 2015 |
astana1:
GEJ administration marginalized AND SACKED PEOPLE TO SET OUT HIS TRIBALISTIC AGENDA
Igbo man Ike Nkeremandu, Deputy Senate President
Igbo man Emeka Ihedioha, Deputy Speaker
(Imagine that in a country with 6 geopolitical zones, one occupies the two of the 4 major National Assemby leadership positions!!)
Igbo man Pius Ayim, Secretary to the Federal Government
igbo man Godwin Emefiele is the governor of the central bank of Nigeria
Igbo woman, Finance Minister and Co-ordinating Minister for the Economy
Igbo woman petroluem Minister
Igbo man Nebo, Power Minister
Igbo man Minister of aviation
Printing and Minting - Igbo
HEAD OF DSS -Igbo
MINISTER OF Health - Igbo
Jonathan removed other tribes from head of parastatals and put Igbos there but that would be addressed now. Bureau of statistics was filled up with Igbos.
Even the Hausas/Fulanis in military have never done this above show of shame and pure tribalism. And Igbos were quiet all through that administration cos others were marginalised. And they are calling Yoruba betrayers ,Yoruba ganged up with the north blablabla It is important to be clear which group are more dependent on FG patronage and oil money 1979 Vice President Alex Ekwueme Senate President Joe Wayas Speaker House of representatives Edwin Ume-Ezeoke 1 Like |
|
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Nobody: 10:48am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. School cert holder? My dear, find teaching job o. Raise money and learn some skill. Salary can't take care of you. |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by tunnary(m): 10:54am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. Hmmmmmmmm |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by dammytosh: 10:55am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. Jenny Baby is a scammer. School cert in present day Jigeria can not write impeccable English like you just did. Mr, look for a better job quit scamming 1 Like 1 Share |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by Donjay007(m): 10:56am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. mods do ur job abeg |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by sirvic01(m): 11:00am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. I presently work in Firstbank Owerri, Amakohia/Orlu road branch, Please what are your full names, just to be sure of what you just posted. 2 Likes |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by 9jatatafo(m): 11:01am On Apr 22, 2015 |
If a Nigerian with noble idea walks to the bank for a loan, the banks will plant so many obstacles on his way in the form of interests, collateral, sureties and co and at the end it will be total refusal. Now this useless Indian man conned these banks to the tune of billions and here they are crying. The Indian performed lazy susan according to investigator but I will say the indian did Strong Susan. 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by UnknownT: 11:01am On Apr 22, 2015 |
Pls, can someone in the banking industry explain this LAZY SUSAN to me in layman's words with an easy to understand example.
3 Likes |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by porka: 11:03am On Apr 22, 2015 |
[size=16pt]Patrick Fernandez - Indian
This alone should raise a flag...
But, he is not in the fraud alone, it's a system racketeering, they should pursue others...
Other Nigerians in the group...[/size] 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by shaizegotswag: 11:03am On Apr 22, 2015 |
Jennifer4christ:
Good day Nairalanders...
My name is Jennifer and I reside in Owerri, Imo state.
I am a school certificate holder with little hope of tertiary education.
Someone advised me to open a Nairaland account and ask for help, so I'm new here.
With the assurance I was given, I promise to testify here, if I get my breakthrough from Nairaland.
Why I came writing this now is because I lost my job as a cleaner at one of First Bank branches in Owerri.
The area manager came to our branch 2 weeks ago and after a series of complaints about almost everything that day, I was relieved of my job.
It still beats my imagination why I was singled out to be sacked.
Why me?
Why just me?
I still can't bear it up till now, since I fend for myself.
The money I have with me is fast running out and I desperately need a job from a good samaritan reading this now.
Please, if anyone can help me get a good paying job or connect me with someone who can give me a good job, I will forever be grateful.
I know this is risky, but I need help desperately, hence, I am putting up my number for possible contact and help.
I am not a sex-worker please and I will never be one, I only need a decent job.
So please, I pray no one misunderstands my intentions.
May God almighty reward those who will run to my aid at this frustrating moment of my life, Amen!
My number is 08172982883.
God bless you. u neva chee chum chin 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by tunnary(m): 11:07am On Apr 22, 2015 |
India d number 1 world wild wen it comes to spiritual powers, maybe d guy use somtin spiritual. Nigeria, d capital of scam WW. |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by synergycom19: 11:10am On Apr 22, 2015 |
Tomorrow the same people will say Nigerians are the most corrupt 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by merengue: 11:14am On Apr 22, 2015 |
How did it get to this extent and no one in the affected banks suspected foul play? I smell a rat. 1 Like |
| Re: How Indian Defrauded Nigerian Banks Of N32b, Court Told! by MARKone(m): 11:17am On Apr 22, 2015 |
Rose2014:
Emefiele an Ika man and Okonjo Iweala an Enu-ani woman, all became Igbo overnight cos it's time for Igbo bashing, same way Nzeogwu and other Anioma soldiers involved in the coup all became Igbo overnight, cos it was time for Igbo bashing.
One minute, you lots will say there are no Igbos in SS, Igboland starts and ends in SE you say, Igbos are trying to attach themselves to groups in SS not comfortable with the Igbo tag you preach.
But when it's time for Igbo bashing, Igboland suddenly starts existing outside the SE, and anyone with Chi, Chukwu, and other Igbo names will not be spared.
I salute you o! You would have just ignored that borderless f00l, do not honour him by quoting him, he is just plain silly. All the names he listed did not even make 1/3 of JEG's cabinet, the slow pock forgot that other tribes still make up JEG's cabinet. 2 Likes 1 Share |
