Nwude was a former director of Union Bank of Nigeria.In his position it gave him access to confidential internal banking information and documents.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.Even to this day, questions remain about how Nwude able to carry out this jaw-dropping scam and convince Nelson Sakaguchi, the director of the bank, to part with so much money for the purchase of an airport in Nigeria?Or they may ask you to pay fees, charges or taxes to 'help release or transfer the money out of the country' through your bank.These fees may even start out as quite small amounts.To carry out the scam, in typical Nigerian fashion, he impersonated the then governor of the Central Bank of Nigeria, Paul Ogwuma, and contacted the Brazilian Banker Sakaguchi offering him a sweet deal on the Nigerian Government's plan to build an airport in in the Nigerian city of Abuja.
The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster requires in order to obtain the large sum.
Nigerians surrounded by warning signs about sending fraudulent e-mail wait to use the Internet in an Internet cafe in Lagos, Nigeria Sunday, July 17, 2005.
Nigerian police say they've scored results in a crackdown launched by President Olusegun Obasanjo's government in the past three years on such crime - which had grown to the point that it is associated with Nigeria all over the world - but new scammers are appearing and evolving new ruses to both trap victims and evade detection.
How could a mature, self-sufficient woman send such a huge sum of money to someone she never even met?
She reported the loss to the Canadian Anti-Fraud Centre, and is now their biggest recorded victim of so-called romance fraud — a new take on the Nigerian email scam.