Feeds

Nigerian fraud duo jailed for 37 years

Please excuse the manner of our sentencing...

Protecting against web application threats using SSL

Two Nigerian fraudsters have been jailed for a total of 37 years following their conviction for involvement in what has been described as the biggest scam in the West African Country's history. Emmanuel Nwude was sentenced to 25 years imprisonment and Nzeribe Okoli to 12 years imprisonment after they plead guilty to conspiring to defraud a Brazilian bank of $242m (£141m). The duo will also forfeit $121.5m in compensation to victims of their scam, which resulted in the collapse of Sao Paolo-based Banco Noroeste.

A third fraudster, Amaka Anajemba, who was jailed for two and a half years after agreeing to pay $48.5m in compensation. The crooks milked millions from staff at the Banco Noroeste by offering huge commissions in return for brokering a non-existent construction contract to build an airport in Nigeria's capital Abuja.

"The activities of the accused persons not only led to the collapse of a bank in a foreign country, but also brought miseries to many innocent people," said Justice Joseph Oyewole, Reuters reports. The convictions are the first by Nigeria's Economic and Financial Crimes Commission (EFCC), established two years ago to combat the country's burgeoning trade in email scams.

EFCC said it has arrested more than 200 email scam suspects since 2003, secured a dozen convictions and confiscated property worth $200m. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Jihadi terrorists DIDN'T encrypt their comms 'cos of Snowden leaks
Intel bods' analysis concludes 'no significant change' after whistle was blown
Home Depot: 56 million bank cards pwned by malware in our tills
That's about 50 per cent bigger than the Target tills mega-hack
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
NORKS ban Wi-Fi and satellite internet at embassies
Crackdown on tardy diplomatic sysadmins providing accidental unfiltered internet access
UK.gov lobs another fistful of change at SME infosec nightmares
Senior Lib Dem in 'trying to be relevant' shocker. It's only taxpayers' money, after all
Critical Adobe Reader and Acrobat patches FINALLY make it out
Eight vulns healed, including XSS and DoS paths
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.