Emmanuel Nwude

Emmanuel Nwude
Born
Nigeria
Other namesOwelle of Abagana
OccupationBusinessman
Known forDefrauding a Brazilian bank of US$242 million
TitleFormer director of Union Bank of Nigeria
Criminal information
Criminal statusReleased in 2006; 18 years ago (2006)
Criminal penalty25 years imprisonment
Partner(s)
  • Emmanuel Ofolue
  • Nzeribe Okoli
  • Obum Osakwe
  • Christian Ikechukwu Anajemba
  • Amaka Anajemba
Date apprehended
February 2004; 20 years ago (2004-02)

Emmanuel Nwude Odinigwe is a Nigerian businessman known for defrauding a Brazilian bank of US$242 million to build a ficticious airport.

Nwude formerly served as Director of Union Bank of Nigeria.[1][2] He defrauded Nelson Sakaguchi, a Director at Brazil's Banco Noroeste based in São Paulo,[3] of $242 million: $191 million in cash and the remainder in the form of outstanding interest,[4] between 1995 and 1998.[5] His accomplices were Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe, along with the husband and wife duo, Christian Ikechukwu Anajemba and Amaka Anajemba, with Christian later being assassinated.[4][6][7]

After Nick Leeson's trading losses at Barings Bank, and the looting of the Iraqi Central Bank by Qusay Hussein, Nwude's crime was the third largest in banking history.[8] After a large-scale attack on a town in Nigeria in August 2016, Nwude was alleged to be a ringleader and was arrested on murder charges.[9] He was later released.

  1. ^ Pulse.Ng (3 October 2017). "How Emmanuel Nwude sold an imaginary airport for 242 million dollars". Pulse.Ng. Retrieved 2021-05-04.
  2. ^ "Richest Crooks". Archived from the original on 2013-11-05. Retrieved 2013-11-21.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  3. ^ "Central Bank of Nigeria Website. > Cases". Cenbank.org. 2002-01-28. Retrieved 2011-12-15.
  4. ^ a b Glenny, Misha (May 2008). McMafia: A Journey Through the Global Criminal Underworld - Misha Glenny - Google Books. House of Anansi. ISBN 9780887848650. Retrieved 2013-11-21.
  5. ^ "Africa | Bank scam trial opens in Nigeria". BBC News. 2004-02-05. Retrieved 2013-11-21.
  6. ^ "Africa | Nigerian bank fraudsters guilty". BBC News. 2005-11-19. Retrieved 2013-11-24.
  7. ^ Glenny, Misha (May 2008). McMafia: A Journey Through the Global Criminal Underworld - Misha Glenny - Google Books. House of Anansi. ISBN 9780887848650. Retrieved 2013-11-21.
  8. ^ Schiller, Jon (2010-03-17). Financial Fraud - Jon Schiller - Google Books. CreateSpace. ISBN 9781450533430. Retrieved 2013-11-24.
  9. ^ "Jailbreak plot may occur as influential persons detention ignites fear in Anambra". Herald.ng. 30 November 2016. Retrieved 2016-12-03.