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CNN Live Today
Nigeria Prosecuting Five Who Scammed South African Bank
Aired February 13, 2004 - 11:13 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN, ANCHOR: It is a banking scandal that rocked financial institutions from the African continent to South America. And now five people are on trial in Nigeria. That country is trying to clean up its image.
Lagos bureau chief Jeff Koinange joins us by videophone with details on this international trial.
Good morning.
JEFF KOINANGE, CNN CORRESPONDENT: Good morning, Daryn.
It's a case that stretched seven years and five continents, and it even led to the collapse of a bank in South America.
But now, like you said Daryn, five Nigerians are on trial here in what's being called the biggest e-mail scam in history.
(BEGIN VIDEOTAPE)
KOINANGE (voice-over): Four men and a woman, on trial for what Nigeria calls advance fee fraud. Locals call it 419, after the penal code it falls under.
CHRIS UCHE, DEFENSE ATTORNEY: This is going to be a just case of how serious Nigeria is actually prosecuting this war against this scam.
KOINANGE: Investigators say this group posed as businessmen in Brazil and convinced officials there to transfer over $242 million to a network of foreign accounts in exchange for promises of huge kickbacks on a contract to build a new international airport in the Nigerian capital, Abuja.
The contract never happened. The money vanished, and Brazil's Banco Noroeste went under.
EMMANUEL AKOMAYE, ECONOMIC & FINANCIAL CRIMES COMMISSION: So we are assuring the word that by the prosecution of this type of crime, this type of (UNINTELLIGIBLE) crime, Nigeria is not going to welcome any embezzler that is tempted criminal process.
KOINANGE: Nigeria is so associated with this type of rip-off, the government set up a special agency to fight these crimes. Billboards and posters are everywhere, warning would-be rip-off artists the penalties they face if found guilty. AKOMAYE: We are not happy to be associated with fraud. The government is not happy. Majority of Nigerians are not happy, and we are determined to put a stop to it.
KOINANGE: But the accused in this case say they are innocent, scapegoats for the government's war against fraud.
UCHE: We want the government not just to use this case as a window dressing for propaganda, but we want them to come up with facts to assure the genuine consent and determination to root out these cases of the 419.
KOINANGE: The verdict in this case could take months, and observers say the longer it drags on the greater the chances of being swept under the rug.
(END VIDEOTAPE)
KOINANGE: Now, Daryn, authorities here in Nigeria say they have their hands full fighting, among other things, armed robbers and carjackers on a daily basis. And they admit that taking on 419ers is proving an uphill battle.
The best advice they can offer would-be victims is that, when in doubt, apply the basic rule of thumb: if it's too good to be true, then it probably is -- Daryn.
KAGAN: And Jeff, is it the lack of resources that provides the environment, that makes it a good place for these scam artists to operate from Nigeria?
KOINANGE: Lack of resources indeed, lack of unemployment, so many factors that enable Nigerians to get into this crime.
Remember, Daryn, this crime is so associated with this -- it's so synonymous with Nigeria, when you go around the world and you talk about e-mail scams, the first thing people will tell you is it's all about Nigeria.
The government here is very determined to make an example of these alleged criminals so that they can at least curtail or fight back against corruption -- Daryn.
KAGAN: Jeff Koinange, joining us from Lagos, Nigeria. Thank you for that.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired February 13, 2004 - 11:13 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN, ANCHOR: It is a banking scandal that rocked financial institutions from the African continent to South America. And now five people are on trial in Nigeria. That country is trying to clean up its image.
Lagos bureau chief Jeff Koinange joins us by videophone with details on this international trial.
Good morning.
JEFF KOINANGE, CNN CORRESPONDENT: Good morning, Daryn.
It's a case that stretched seven years and five continents, and it even led to the collapse of a bank in South America.
But now, like you said Daryn, five Nigerians are on trial here in what's being called the biggest e-mail scam in history.
(BEGIN VIDEOTAPE)
KOINANGE (voice-over): Four men and a woman, on trial for what Nigeria calls advance fee fraud. Locals call it 419, after the penal code it falls under.
CHRIS UCHE, DEFENSE ATTORNEY: This is going to be a just case of how serious Nigeria is actually prosecuting this war against this scam.
KOINANGE: Investigators say this group posed as businessmen in Brazil and convinced officials there to transfer over $242 million to a network of foreign accounts in exchange for promises of huge kickbacks on a contract to build a new international airport in the Nigerian capital, Abuja.
The contract never happened. The money vanished, and Brazil's Banco Noroeste went under.
EMMANUEL AKOMAYE, ECONOMIC & FINANCIAL CRIMES COMMISSION: So we are assuring the word that by the prosecution of this type of crime, this type of (UNINTELLIGIBLE) crime, Nigeria is not going to welcome any embezzler that is tempted criminal process.
KOINANGE: Nigeria is so associated with this type of rip-off, the government set up a special agency to fight these crimes. Billboards and posters are everywhere, warning would-be rip-off artists the penalties they face if found guilty. AKOMAYE: We are not happy to be associated with fraud. The government is not happy. Majority of Nigerians are not happy, and we are determined to put a stop to it.
KOINANGE: But the accused in this case say they are innocent, scapegoats for the government's war against fraud.
UCHE: We want the government not just to use this case as a window dressing for propaganda, but we want them to come up with facts to assure the genuine consent and determination to root out these cases of the 419.
KOINANGE: The verdict in this case could take months, and observers say the longer it drags on the greater the chances of being swept under the rug.
(END VIDEOTAPE)
KOINANGE: Now, Daryn, authorities here in Nigeria say they have their hands full fighting, among other things, armed robbers and carjackers on a daily basis. And they admit that taking on 419ers is proving an uphill battle.
The best advice they can offer would-be victims is that, when in doubt, apply the basic rule of thumb: if it's too good to be true, then it probably is -- Daryn.
KAGAN: And Jeff, is it the lack of resources that provides the environment, that makes it a good place for these scam artists to operate from Nigeria?
KOINANGE: Lack of resources indeed, lack of unemployment, so many factors that enable Nigerians to get into this crime.
Remember, Daryn, this crime is so associated with this -- it's so synonymous with Nigeria, when you go around the world and you talk about e-mail scams, the first thing people will tell you is it's all about Nigeria.
The government here is very determined to make an example of these alleged criminals so that they can at least curtail or fight back against corruption -- Daryn.
KAGAN: Jeff Koinange, joining us from Lagos, Nigeria. Thank you for that.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
