Nigerian fraudsters jailed for $240m bank sting
… and bringing down a bank in the process…
Two of the perpetrators of the largest ever fraud in Nigerian history have been jailed for a total of 37 years.
According to Reuters, Emmanuel Nwude was sentenced to 25 years and Nzeribe Okoli to 12 years for their part in a scam which brought down Brazilian bank Banco Noroeste.
The two men agreed to forfeit assets worth $121.5m to victims of the scam.
In common with many frauds emanating from Nigeria, the crimes of Nwude and Okoli began with an email which promised a large commission to the duped third party on the completion of a business transaction ?Â¢â€šÃ‡Â¨â€šÃ„Ãº in this case the awarding of a contract to build an airport.
Full story: silicon.com