Two Nigerians were jailed for a total of 37 years for their part in the biggest scam in Nigerian history. The scam defrauded a Brazilian bank out of $242 million.
Nzeribe Okoli and Emmanuel Nwude were sentenced to 12 and 25 years respectively as part of a plea agreement to 16 of 91 charges. They also had to forfeit assets worth over $120 million back to their victims.
The fraud committed by the pair, along with a previous case involving Amaka Anajemba, ultimately led to the collapes of Sao Paolo-based Banco Noroeste. In July, Anajemba was sentenced to 2 1/2 years in jail.
The scam involved obtaining money after promising a bank employee a commission for funding an airport construction contract in Abuja, the capital of Nigeria. The contract, of couse, was bogus.
Nigeria is ranked as the 6th most corrupt country. After oil, natural gas, and cocoa; scams are the leading export. Since 2003, over 200 junk email scammers have been arrested and over $200 million in property has been confiscated.
Be First to Comment