This Nigerian Scammer Sold a Fake Airport to a Bank

How did this Nigerian scammer sell a fake airport to a Brazillian bank for $242 Million? Find out in this video!

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OG Nigerian Prince
When the internet was slowly gaining adoption in the 90s, Emmanuel Nwude reigned as king of Nigerian internet scammers. Between 1995-1998, he pulled off the third largest banking scam in history by convincing Brazillian bank manager Nelson Sakaguchi to buy an airport in Abuja, Nigeria's new roaring capital.

Emmanuel Nwude
Before he launched the third-largest bank scam in history, Nwude was the director of the Union Bank of Nigeria. He also had access to all of the personal information of bank associates. At the time, Nwude was one of the wealthiest businessmen in Nigeria.

Deal of the Century
To attract Sakaguchi's interest, Nwude impersonated the then Governor of the Central Bank of Nigeria, Paul Oguma. Nwude must've had some impressive acting skills because, to this day, Sakaguchi still believes Oguma was, and always has been, his business partner.

Abuja, Nigeria
At the time, Abuja had a population of just over 500,000. That's comparable to cities like Denver, Baltimore, and Tucson. A busy airport would mean big profits in a city that size. Abuja became Nigeria's capital city on December 21, 1991.

Squad
But, Nwude didn't act alone. He had a team of scammers working behind the scenes to make his scheme work. The idea to get the Brazilian bank involved was a collective effort too.

Santander Bank
You probably recognize the Spanish Bank by their red lettering. It was Santander that discovered the scheme in 1998. While Nwude and his crew were living large, Santander entered into a deal to buy Banco Noroeste.

Arrest
It wasn't until 2004 that Nwude and his associates were arrested and charged. In February of that year, the Federal High Court of Abuja charged Nwude and his team with 86 counts of quote "Fraudulently seeking advance fees" and 15 counts of bribery.

419 Scam
Nwude's scam popularized a specific type of fraud, the advance fee fraud. It's the type of fraud where businesses or individuals must pay a fee before getting a return. 419 fraud is the legal name for Advance fee frauds.

#1 and #2
So, if Nwude's $240 Million scam is only the third-largest banking scams in history, what are the other two? Qusay Hussein, the second son of Sadam Hussein, comes in at number two.

Nwude Today
After his release, Nwude filed suit, claiming that some of the money seized was earned before the scam. He's since been awarded $116 Million between 2006 and 2016. Sounds like a lot more than some to us.

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