.

The rise of internet popularise internet fraud commonly known as 419 and Nigeria has come to be associated with it. Before the internet fraud became a global issue, Nwude had committed one of the biggest scam in the world. Specifically, his fraud was the third largest banking scam in the world after the Nick Leeson's trading losses at Barings Bank, and the looting of the Iraqi Central Bank by Qusay Hussein.

How was Nwude able to carry out this jaw-dropping scam and convince Nelson Sakaguchi who was the director of the bank to part with so much money for the purchase of an airport?

Nwude was a former director of Union Bank of Nigeria and this position made him privy to some links, information and documents that other persons would not be aware of. He impersonated the then governor of the Central Bank of Nigeria, Paul Ogwuma, and connected with Sakaguchi informing him of a mouth-watering deal of Nigeria’s plan to build an airport in Abuja.



Emmanuel Nwude carried one of the the biggest banking fraud in the world
Nwude, pretending to be the CBN governor, told Sakaguchi that he stood of chance of pocketing $10 million commission when the deal passed through. Sakaguchi paid $191 million in cash and the remainder in the form of outstanding interest.

Nwude’s accomplices were Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe, along with the husband and wife duo, Christian Ikechukwu Anajemba and Amaka Anajemba, with Christian later being assassinated.

The criminal gang was able to convince the director of the Brazilian bank to part with the money.

How did Sakaguchi find out he was a victim of one of the largest scam in the world?

In 1997, the Spanish Banco Santander wanted to take over the Banco Noroeste and a joint board meeting was held in December of that year. Officials of the Spanish bank noted that half of the Brazilian bank’s capital was at Cayman Islands unmonitored. This raised questions as this was two-fifths of Noroeste's total value.

Investigation began and was carried out in Brazil, Britain, Nigeria, Switzerland, and the United States. Although the sale of the Bank still went on as the owners of the bank paid $242 million bill, the nak still collapsed in 2001.

The birth of the EFCC

In 2002, the then president, Olusegun Obasanjo saw to the establishment of an anti-graft agency, the Economic and Financial Crimes Commission (EFCC). Nwude’s fraud case one of the first to be investigated and in 2004, all members of the gang were arraigned before an Abuja High Court on 86 counts of "fraudulently seeking advance fees" and 15 counts of bribery related to the case . Although they pleaded not guilty, they were warned not to attempt to bribe court officials as it was suspected that money was going round.


In 2005, Amaka confessed to helping Anajemba and was asked to repay $25.5 million and also sentenced to two and a half years in prison.

Nwude attempted to bribe Nuhu Ribadu, the then chairman of the EFCC, with $75,000 cash but the latter refused and Nwude was charged with attempted bribery as well as attempt to kidnap a prosecuting witness.

Following Sakaguchi witness, Nwude finally pleaded guilty and was sentenced to five concurrent sentences of five years and was also asked to pay $10 million fine to the federal govt

He was released from prison in 2006 and filed a case to reclaim his assets insisting some of them were acquired before the criminal act. He has so far been able to reclaim $167 million.

Read the remaining here

https://www.naij.com/1100779-the-story-emmanuel-nwude-carried-biggest-scam-nigeria.html

If u see him any where shake him with two hands!

Tch

He is our HERO.

Please bring him safely back home let's give him a traditional title like we do for all the corrupt politicians in Nigeria.

divinehand2003:
He is our HERO.

Please bring him safely back home let's give him a traditional title like we do for all the corrupt politicians in Nigeria.

Yesso

NIGERIANS ARE AMONG THE TOP 10 TALENTED SCAM ARTISTS,GEEZ

Igbo!!!!!!

GloriaNinja:
NIGERIANS ARE AMONG THE TOP 10 TALENTED SCAM ARTISTS,GEEZ

A wonderful achievement!

Baba for scam. The Escobar of internet fraud.

Genius J

mcmurphy132:
Igbo!!!!!!

Pls o wat is Igbo

We Nigerians...are smart in deceive these white ppl am very proud of that.... they think they could outsmart us in everything cuz they RE good at technologies..even if they invent robot..we gonna reprogram/deceive d robot to steal their money for us

Nwude

Ndi developers

who will mentor me in this business?

242 million dolars!!!

I go even go jail for 10years, as far as say I come back to collect 150m dollars

loomer:
I go even go jail for 10years, as far as say I come back to collect 150m dollars

enemies in your village are worrying you.. and you think you will meet the 10m when you come back
Ani Didirin nie se

Oboy e no easy

The guy is a super hero

A whole airport?...I wonder what he's trying to sell now

lukasmuyiwa:
enemies in your village are worrying you.. and you think you will meet the 10m when you come back
Ani Didirin nie se

You no read say the man claim 160m as him come back?