Description :

Emmanuel Nwude

Emmanuel Nwude is a news breaking fraudster ‘who scammed $242 million from a Brazilian bank by selling an imaginary airport during the year 1995 to 1997’. Nwude being the former director of the Union Bank of Nigeria, sketched out a groundbreaking scam with his knowledge learned from banking department and its documents.

“He contacted Brazil's Banco Noroeste's director Nelson Sakaguichi using his former banking contacts while posing himself as Paul Ogwuma, the director of the Central Bank of Nigeria during the year 1997.”

He defrauded Sakaguichi with a fake airport investment deal in Nigeria's capital and honeyed his ears with a $10million commission from the investment. The deal was approved by Banco Noroeste under Sakaguichi by sending $191 million by cash and remaining to an unnamed bank account. The scam went unknown until 2000 when a French bank bought Banco Noroeste and looked into their account books in which they saw a $242 million deal and started the investigation on how it was spent. The investigation ran for five years till 2005 where it leads to the capture of Nwude and his accomplices. Nwude eventually pleaded guilty and was sentenced to five years of imprisonment and $10million fine.