Lifestyle

Emmanuel Nwude’s fraud case is regarded as one of the biggest scams in history

Published

1 year ago

2023/04/28

Emmanuel Nwude is a Nigerian businessman known for being involved in one of the biggest scams in history. Here are some things to know about him:

Background and Career

Nwude was born in 1952 in Nigeria. He worked as a civil servant in the Nigerian government before venturing into business, where he became a prominent figure in the real estate industry.

The Scam

In the early 2000s, Nwude and his co-conspirators carried out a scam where they convinced a Brazilian bank to transfer $242 million to a bank account in Switzerland. The fraud was based on impersonating the then-president of the Central Bank of Nigeria, Paul Ogwuma. The bank officials believed they were transferring money for a secret purchase of Nigerian government bonds, but the money was actually sent to Nwude’s account.

Arrest and Conviction

Nwude was arrested in 2004 after the Brazilian authorities became suspicious of the transaction. He was extradited to Nigeria and charged with fraud, forgery, and impersonation. In 2005, he was sentenced to five concurrent sentences of five years in prison each.

Other Involvements

Prior to the Brazilian scam, Nwude was also involved in other fraudulent activities. He was convicted in 1995 for fraudulently selling a property he did not own to a Brazilian businessman.

Infamy

Nwude’s fraud case is regarded as one of the biggest scams in history, with the money involved being one of the largest sums ever stolen in a single transaction. The case received widespread media coverage and Nwude became infamous for his involvement in the scam.

Release from Prison

In 2018, Nwude was released from prison after serving his sentence. However, his release was reportedly due to ill health and not a pardon.

In summary, Emmanuel Nwude is a former Nigerian civil servant and real estate businessman who is known for being involved in a major fraud case that resulted in one of the biggest scams in history. He was arrested, convicted, and served a five-year prison sentence.