Thursday, December 3, 2009

American financial analyst testifies against Nigerian fraudsters

Dr. Carl D. Vance, a financial analyst from the United States testified in a Lagos High Court, about how Nigerian fraudsters were able to defraud him of about $1.8 million between 1995 and 1996. Dr. Vance said the fraudsters promised to facilitate a contract with the Nigeria National Petroleum Corporation (NNPC).

A Chief Collins Onyejiaka is currently being tried after Dr. Vance submitted a petition to the Economic and Financial Crimes Commission (EFCC) that led to an investigation that linked Chief Onyejiaka to the scam.

Here are excerpts of Dr. Vance testimony to the court:

"In late February 1995, I attended a reception at the Canadian Embassy in Washington D.C. where I was invited because of my kind of work.

"I met some guys at the dinner and we talked about investment in Nigeria and typical of me I gave out my business card, like as I use to.

"Afterwards in late March, 1995, I received a call from a person who introduced himself as a Managing Director in NNPC, who claimed to be in a position to do business with me.

He told the court that in October 1995, "we agreed to do business together," which he said started in March 1996.

"We started the processes of paying monies, with a start sum of $56,000, which was to be paid to the Federal Inland Revenue Service in Nigeria and I was told the file would be forwarded to the CBN.

"Few days later I received a call from someone who said that he was Katchy. He said to me that if I could release $5,000 he would be able to facilitate my file and I sent him the money.

"I was later called that my file has been approved and I was told to wire $57,000 which I did on August 27, 1996, which I sent to CB-Trust account through Ecobank".

Dr. Vance said that subsequent payments made to the fraudsters at different instances amounted to $1,813,728.00. He explained that the money was transferred in 16 different transactions to accounts in at least seven countries: Nigeria, Switzerland, Benin Republic, Dubai, Belgium, Hong Kong and Japan.

Daily Trust

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