Nigerian 419 scammers convinced Banco Noroeste executives to deposit $242 million in their Cayman bank accounts.
Banco Noroeste S.A. was a Brazilian bank at the centre of the 419 scam, which was described as the "single biggest advanced fee fraud case in the whole world" by the former chairman of Nigeria's Economic and Financial Crimes Commission (EFCC), Alhaji Nuhu Ribadu.
A total of US$242 million was reportedly stolen from the Banco Noroeste S. A. through offshore banks in the Cayman islands.
The money was remitted by SWIFT transfers through various banks to accounts controlled by Nigerian nationals, Ikechukwu Christian Anajemba, Emmanuel Odinigwe Nwude, Nzeribe Okoli and Amaka Anajemba (wife of Ikechukwu Christian Anajemba).
The authorisation for all the transfers was done by Nelson Tetsuo Sakaguchi, a senior official at the bank.
The Nigerians, in a 419 plan, came up with a fake contract to build an airport in Abuja. They promised Nelson Tetsuo Sakaguchi a big commission in exchange for funding the contract.
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