The Biggest 419 Affair Ever ($242M stolen)

The trial of suspected fraudster, Fred Ajudua in a Lagos court is a child's play compared to the mind boggling revelations in a London court about how a group of Nigerian fraudsters, in collaboration with some Asians, looted a Brazilian bank of $242 million, into liquidation.

Here for the first time is published the full story of how the biggest 419 deal in the world was clinically executed, with funds moving across five continents Chief Emmanuel Nwude-Odinigwe cuts no figure of a con man. Creation mounts on his proportionately sculpted frame a cherubic face that would ease his path into the office of a bishop, if he so desires. But Nwude has no such desire. Underlining that innocent visage is a manipulative mind that directs Nwude's energy into thoughts most unchristian.

In 1994, the mind set to work on a bank heist that would put his name on the front seat of the Advance Fee Fraud practice, popularly known as 419. By 1998 when he, together with his co-conspirators, was done with Banco Noreste SA of Brazil, the victim bank had been swindled of $242 million (about N33 billion). As advance fee frauds go, this took the cake and it put, as it seemed, Nwude and his fellow fraudsters on easy street for life.

But not quite. At home, there has been no respite for Nwude since TheNEWS, in its 8 October 2001 edition, exclusively broke the story of the scam. The story detailed how Nwude and Ikechukwu Anajemba, now late, sold a dummy of a contract to Nelson Sakaguchi, a top official of Banco Noroeste in charge of all its international areas. Sakaguchi was made to believe he would benefit from a $187 million Ministry of Aviation contract which had an overriding interest of $13.4 million. To benefit from the contract, he was told, he would need to facilitate its execution by contributing financially.

Sakaguchi swallowed the bait and began pumping in Noroeste's money, without approval from his superior officers, into accounts designated by the conmen.

Through tales that the contract money was ready for payment and supported by fake letters purported to have emanated from the office of the then governor of the Central Bank of Nigeria, CBN, Chief Paul Ogwuma, Nwude and his fellow collaborators urged Sakaguchi on for more funds and, in the process, fleeced Banco Noroeste extensively.

The huge sum involved in the Banco Noroeste saga, countless reports of similar frauds and the dirty image they gave Nigeria, eventually spurred the President Olusegun Obasanjo administration into taking decisive action to cage the conmen. There has also been pressure from the American government on the president to stamp out the advance fee fraud syndrome.

Consequent upon all these, Obasanjo established an elite body, the Economic and Financial Crimes Commission, headed by an assistant commissioner of police, Mr. Nuhu Ribadu, to arrest the fraudsters for prosecution. In the commission's net at present are suspected fraudsters like Nwude, Adedeji Alumile a.k.a. Ade Bendel and Fred Ajudua. Amaka Anajemba, wife of the late Ikechukwu Anajemba and sole beneficiary of the vast proceeds of his 419 loot is still at large, far from the dragnet of the EFCC operatives.

Abroad, there is no respite for Nwude and Amaka. The American and British governments have seized some of their real properties in those countries believed to have been purchased from the proceeds of the Bank Noreste fraud. Now, in London, they are being hunted by a High Court for prosecution. Nwude, Amaka and 40 other defendants were last March dragged to the court by Luiz Vicente Mattos Junior, a major shareholder in Banco Noroeste, as well as by some other majority shareholders who have been saddled with the responsibility of recovering the outstanding $190 million that Nwude and his co-travelers in the mind-boggling scam allegedly hauled from the bank. The remaining $50 million has been impounded from the gang in terms of cash and assets.

The particulars of claim No HCO100699, exclusively in possession of TheNEWS, and filed by the claimants' lawyer, Peters & Peters of 2 Harewood Place, Hanover Square, London, have further thrown up details of how the fraud was perpetrated, who got what and who played which role.

The fraud in the bank was uncovered in early 1998 when Mattos Junior and other majority shareholders who held 95 per cent of Banco Noroeste's shares agreed to sell off their shareholding to Banco Santander Brazil SA, a subsidiary of Banco Santander of Spain, for over $500 million. Prior to the conclusion of a formal agreement on the sale, the president-designate of the proposed Santander Noroeste Group, Mr. Antonio Horta, discovered some discrepancies in the balance sheets for offshore deposits of foreign currency. The operations of the office was directly under Sakaguchi's control. On the discrepancy, Horta demanded an explanation from one of the bank's two managers of operation and control, Mr. Jayme Margues de Souza.

The manager, in turn, requested the bank's accounting manager, Mr. Pedro de Carvallo, to investigate the discrepancies. The investigation, conducted while Sakaguchi was on vacation, revealed how he facilitated the fraudulent misappropriation of a sum of $242 million. When he was questioned by Margues on 11 February 1998 on this discovery, Sakaguchi merely admitted he lost between $9 million and $12 million of the bank's money by acting as a "trader." This development led to a full-scale audit of the transaction done by Sakaguchi. The audit was carried out by the bank's audit department and its external auditors, PricewaterhouseCoopers. But before the audit report was submitted, Mattos, Margues and other executive officers from its internal audit and legal departments held a meeting with Sakaguchi on 11 February 1998. At the meeting, the troubled banker admitted that he had "invested" Banco Noroeste's money in the construction of an airport in Nigeria although he refused to state the exact amount. But he argued before his interviewers that the investment was profitable and would certainly deliver huge returns for the bank. He also admitted he made payments to a mee de santo, which means a voodoo priestess, apparently for spiritual assistance on the deal he entered into with Nwude and his collaborators.

On 12 February 1998, the preliminary report of the audit revealed the bank had been duped by the fraudsters to the tune of $242.53 million. Sakaguchi failed to explain how the huge loss was incurred. Under pressure, he only tendered photocopies of a number of documents, many of which were written or signed by him. But the documents were not convincing, as they did not explain how the money was used, the purpose of the payments and the beneficiaries.

The bank's investigators have, however, been able to unravel how the fraud was perpetrated and who its direct and secondary beneficiaries were.

The funds were transferred principally through the SWIFT electronic system.

Under this system, between early 1995 and January 1998, a total of about $242 million belonging to Banco Noroeste was remitted from the dollar accounts in its Cayman branch in Britsh West Indies to persons and entities who had no proper relationship or no relationship at all with the bank.

These persons and entities included Nwude, Anajemba, Amaka, some Indians and a string of companies they registered mainly for the laundering of the ill-gotten money.

The script had well been rehearsed by the principal characters in the scam before Sakaguchi visited Nigeria on a business trip in 1994. On that visit, he was introduced to a group of Nigerians by another Nigerian, Dr. Hakim Ukeh, whom he believed was a reliable friend. Ukeh introduced Sakaguchi to the "deputy governor of the CBN in charge of foreign operations, Alhaji Mahey Rasheed", and the "CBN governor, Chief Paul Ogwuma." But those the Brazilian met were not the real CBN officials. Anajemba posed as Rasheed while Nwude posed as the CBN governor. Sakaguchi was also made to meet with another impostor, Amaka, wife of Ikechukwu Anajemba, who presented herself as another CBN bigwig, a fictitious Mrs. Agbakoba.

Since Sakaguchi got sucked into the vortex of the illegal scheme, he became inextricably involved. From the first payment he facilitated out of the Cayman branch in 1995, Sakaguchi intensified the SWIFT transfers through the SWIFT system. None of the payments (transfers) reflected any proper or actual transaction, was not authorised by the relevant officers of the bank nor was made with the authority or knowledge of the officers of the bank, other than Sakaguchi. All of the SWIFT transfers were disguised by false accounting entries and not entered in the bank's accounting.

In the particulars of claims before the London High Court, the claimants allege that the first, second, third, fifth, sixth, seventh, eighteenth, nineteenth, thirty-first and thirty-sixth defendants, tagged the conspiracy defendants, (see box for full list of defendants) and Chief Anajemba, "conspired, with intent to injure the Bank, to use unlawful means to defraud the Bank and to launder or conceal the monies fraudulently misappropriated from the Bank".

The conspiracy defendants and Chief Anajemba were alleged to have colluded with Nelson Sakaguchi, Naresh Anani, Shamdas Nathumal Asnani, Ishwari Asnani (wife of Shamdas), Sherina (Hong Kong) Limited, Christian Nwude (younger brother of Emmanuel Nwude), Rosemary Iloenyosi (younger sister of Emmanuel Nwude), Chief Festus Okonkwo, Mamelec Trading Pte Ltd of Singapore and G.

Doulatram and Sons (Hong Kong) Limited. The conspiracy, according to the claimants, "consisted of an agreement, combination, arrangement, understanding or concert, or one or more connected agreements..." to use "fraudulent representations and or other fraudulent means to obtain payments of monies from and belonging to the Bank, to which none of the parties to the conspiracy was entitled" and to "launder and conceal the monies fraudulently misappropriated from the Bank." The claimants say they have been able to trace the transfers to the defendants. They also listed some Nigerian banks involved in the interchange of the funds, and the account numbers of the transactions.

The first defendant on the list, Macdaniels, was incorporated in England on 2 December 1994. Chief Ezeugo Nwandu, the second defendant, signed the company's accounts for the years ended 31 December 1997 and 1998 as its director. He is also a broker and the chief executive officer of the General Securities & Financial Company Limited, Nigeria. Macdaniels has a US dollar account (number 66814466) and a pounds sterling account (number 909044440) at Barclays Bank plc, London. The claimants allege that a total of $8,050,000 in misappropriated funds was transferred directly from Banco Noroeste to Macdaniels' US dollar account.

The fifth defendant, Dax Petroleum Nigeria Limited, Dax PN, is a company registered in Nigeria under company number 295887, of which the late Anajemba and his wife, the third defendant, were directors throughout the period of the misappropriation of funds from Banco Noroeste. Anajemba died on 5 October 1998, after which his wife became the chief executive officer of Dax PN and sole signatory of its bank accounts. Dax PN received N386, 456,248 (converted at the rate of exchange then to approximately $4,628,218) from the money remitted from Banco Noroeste to Macdaniels by means of a series of banker's drafts written to Dax PN on the Nigerian bank accounts of the first defendant or its associated Nigerian companies, Macdaniels Limited and General Securities.

Thus, the claimants "claim against Dax PN and/or the estate of Anajemba and/or against the third defendant personally, in her capacity as director at the material times of Dax PN, as recipients of $4,628,218 of misappropriated funds, by way of secondary or third level transfers.

The sixth defendant, Primole Communications Limited, is a company registered in Nigeria under company number 296171, of which Anajemba and his wife, Amaka, were directors throughout the period of the alleged misappropriation of funds from Banco Noroeste. Primole was said to have received secondary transfers from the Brazilian bank to the tune of $24,005,309. Furthermore, it received N84,790,000 (converted at the rate of exchange then to approximately $1,015,449 of the misappropriated funds) in secondary or third-level transfers from the money remitted by Banco Noroeste to Macdaniels on the Nigerian bank accounts of the first defendant or its associated Nigerian companies, Macdaniels Limited and General Securities.

Thus, the claimants "claim against Primole and/or the estate of Chief Anajemba and/or against the third defendant personally, in her capacity as director at the material times of Primole, as recipients of $25,020,757 of misappropriated funds.

Fynbaz Nigeria Limited, the seventh defendant, is registered in Nigeria, with Anajemba and his wife as its directors throughout the period of the misappropriation of funds from Banco Noroeste. After the death of Anajemba, Amaka became its chief executive officer and sole signatory of its bank accounts.The SWIFT transfer instructions to the account of Fynbaz at Hillcrest Merchant Bank Ltd in Geneva (no. PO1501871) indicate that Fynbaz received $4.35 million primary transfers of misappropriated funds into its Swiss bank account. Other SWIFT transfer instructions also indicate that Fynbaz received $3.025 million primary transfers of misappropriated funds into various English bank accounts. Other SWIFT transfer instructions indicate that Fynbaz sent $5.7 million primary transfers of misappropriated funds into various Nigerian bank accounts.

On 19 January 1996, Union Trust Building Society is mentioned in the court document to have paid $1 million to an account at HSBC by order of Fynbaz.

The claimants are accordingly claiming against Fynbaz, the estate of the late Chief Anajemba or Amaka personally, in her capacity as director of Fynbaz, the sum of $14,103,742 in misappropriated funds from Banco Noroeste.

Chief Anajemba is said to have maintained an account number 605600010 at Laroche & Co. Banquiers in Switzerland. Between 11 December 1997 and 26 February 1998, he was said to have received into this account sums totalling $4 million by way of secondary transfers from the Swiss accounts.

Accordingly, the claimants want Amaka to pay them a total of $4,082, 975 being funds misappropriated from the bank by her late husband but which she has now directly inherited.

Amaka herself owns an entity in Liechtenstein named Vanua Foundation. The Foundation maintains an account number 60630027 at Laroche & Co. Banquiers.

Between 11 December 1997 and 25 February 1998, Amaka received into this account sums totaling $3,997,500 by way of third level transfers from the account of her husband and Laroche & Co. Banquiers account number 605600010.

Nwude was listed as having received payments of monies fraudulently misappropriated from Banco Noroeste totalling at least $33,183,698.

On 10 July 1995 and 10 August 1995, Nwude received primary transfers of $1.27 million and $1.2 million respectively into an account in the name of Crystal Bank of Africa held at ANZ Bank, London, (account number 664359).

Between 10 July and 16 August 1995, Nwude received further primary transfers totalling $3.39 million. Of these sums, $550,000 was paid on 16 August 1995 into an account in the name of Triumph Merchant Bank Limited at ANZ Bank in London for the benefit of African Shelter (account number 654004-01) and the remainder ($2.84 million) was paid into an account in the name of Crown Merchant Bank Limited at ANZ Bank in London (account number 277764-13) for the benefit of African Shelter Bureau Limited.

Between 22 April 1996 and 24 February 1998, he also received eight secondary transfers totalling $8.46 million from the Landmark/ Evershine, Pentagon and Excel accounts in Switzerland into his personal account at Banquet Leumi Le Israel number 10490.

Furthermore, on 1 February 1996, he received a secondary transfer of $400,000 from the Landmark account into an account in the name of Globe International Holding plc. Between 1 October 1997 and 8 March 2000, Nwude also received payments totalling $5,518,352 from Globe into an account in the name of Rodieem Foundation at Banque Leumi Le Israel number 222836.

Globe itself received secondary transfers totalling $4.62 million. Out of this sum, the following payments were made to his personal account at Banquet Leumi Le Israel (number 10490): a. $1.37 million on 1 June 1999, the day after $1,363,352 was received by Rodieem Foundation from Globe; and b. $3.48 million on 3 April 2000, approximately three weeks after $3.47 million was received by Rodieem Foundation from Globe.

Between 18 August 1997 and 19 November 1997, Nwude received secondary transfers totaling $7 million from the Excel and Pentagon accounts and a third-level transfer of $3 million (derived from the Pentagon account) from Kunzli & Seehozer account number 8585032, in total $10 million, into the account of the Ritanga Foundation at Laroche &Co. Banquiers, Basle, number 8585113.

Between 11 September 1995 and 21 February 1997, he further received third-level transfers totalling $3,843,698 from Mr. Christian Kachi Nwude, his brother, who himself received a primary transfer of $500,000 on 31 August 1995 and secondary transfers totalling $6,142,211, including transfers into the account of Union Trust Building Society at London Trust Bank totalling $2,675,000, into an account at HSBC Hong Kong account number 018 - 5 - 603511.

Florence, Nwude's wife who is the 19th defendant, received a total of $42,426 and 8000 pounds sterling from Nwude's account number 10490 at Bank Leumi Le Israel, Zurich ("BLLIZ) which was one of the accounts which were recipients of the stolen funds.

Between 26 June 1995 and 10 July 1995, sums of money belonging to the Banco Noroeste totalling $5.75 million were transferred directly to an account in the name of Payal Asnani, an Indian who is the 36th defendant, at UCO Bank in Hong Kong, number 45039. This account at UCO Bank was beneficially owned by Payal and her mother-in-law, Ishwari Asnani. Asnani also owns an account in the name of Payal held at India Overseas Bank, Hong Kong, number 1034 CD.

This account, together with the aforesaid UCO Bank account, received between 7 September 1995 and 11 March 1997 sums totalling $16,488,261 in secondary transfers from the Landmark/ Evershine account. The claimants therefore want Asnani to pay them a total of $22,238,261.

Minsk Investment Co. Ltd, the 38th defendant, was incorporated in Grand Cayman on 7 September 1976. Its corporate address is Cayman International Trust Co. Ltd, P.O. Box 30500, George Town, Grand Cayman, British West Indies. The company holds an account number 174718 with Lloyds Bank in Zurich, which was opened on 5 October 1997. The beneficial owner of the funds deposited in the Minsk account is Mr. Nariandas Parmanand Kirpalani, the 37th defendant, who is an Indian national who lives at 43/45 York Terrace West, London NWI (registered in the name of the 38th defendant) and in Nigeria. Kirpalani, together with his wife, Gopi, and Primeway S.A (a director of Minsk Investment Co. Ltd) are all signatories to the Minsk account. In total, $1.35 million was paid by way of secondary transfers from the Landmark/Evershine account to the Minsk account for the benefit of Minsk and /or Mr. Kirpalani. Montana Trading Company Ltd, the 39th defendant, was incorporated in Grand Cayman on 24 October 1980. On 26 February 1985, an account number 175749 was opened in the name of the Montana Trading by the 37th defendant, Kirpalani. Although the account opening forms do not identify the beneficial owner of the assets deposited with the bank, since it was Kirpalani who opened the account and is a signatory on the account, it is being inferred that he is the beneficial owner of the said account.

Between 1995 and 1997, secondary transfers totalling $300,000 were made from the Landmark/Evershine account to the Montana account.

Furthermore, on 13 May 1997, $35,000 was the subject of a third-level transfer from a Nigerian bank account at Bankers Trust Company in London, for Primole Communications Ltd, the sixth defendant, to "Montana Investments".

The claimants infer that "Montana Investments" is actually Montana Trading Company Ltd, and that Kirpalani is in fact the beneficial owner of the funds deposited in the Montana account. The claimants are relying on the fact that Kirpalani recommended Naresh Asnani to Mr. Rolf Wasmer of Lloyds Bank, Geneva, and provided a reference for the opening of the Landmark/Evershine account to show that he knew of the reason why the account needed to be opened, that is to say, the laundering of the proceeds of the fraud.

Accordingly, the claimants claim as against Naraindas Kirpalani $1.685 million by way of secondary and third level transfers; as against Minsk Investment Co Limited, $1.35 million by way of secondary transfers; as against Montana Trading Company Ltd, $335,000 by way of secondary and third-level transfers.

The 42nd defendant, Sunil Sunderdas Vaswani, another Indian, was said to have on or about 11 July 1996, opened a personal account number 342692 at Citibank, Geneva, under the codename "Sarina". On the application form, he gave his nationality as British and his address as 270A, Ajose Adeogun Street, Victoria Island, Lagos, Nigeria. He declared himself to be the beneficial owner of the funds in that account. His wife, Rita Vaswani, (also British but resident at the Lagos address), was granted a general power of attorney over the account and was also a signatory thereto. In total, $6,500,045 was paid by way of secondary transfers from the Landmark and Excel accounts to the Sarina account for the benefit of Vaswani.

The claimants believe that Vaswani had the benefit of two further secondary transfers from the Landmark/ Evershine account because two payments out of that account on 9 May 1995 were made "by order of Stallion", which were likely to be on behalf of one of the Stallion Group of Companies of which Vaswani is a principal shareholder and managing director. The first transfer was for $244,483 in favour of General Suciere; and the second for $256,043 in favour of Hamstang Limited. On 15 May 1997, a third-level transfer was made from CNA International's account number 34751 at UCO Bank (HK) in the sum of $99,580 to credit Vaswani's account number 2125552 at American Express Bank, London.

CNA International was a trading partnership of Shamdas Asnani and Anita Lo, which received secondary transfers from the Landmark/Evershine account.

Vaswani, in his defence, has admitted in an affidavit sworn to on 28 February 2003 that he obtained all the money pleaded in the contentious transactions from Naresh Asnani, an account holder of the Landmark and the Excel accounts, but declared that he gave naira in exchange for them to Asnani or to third parties at Asnani's direction (in the event, to entities associated with the 18th defendant, Nwude); to entities associated with the late Anajemba, and to the fifth and sixth defendants.

Brecher Abram, solicitors to the Vaswanis, however, have risen in defence of their client.

The lawyers argued that their client was not categorised as a conspiracy defendant because he was not accused of participating in any conspiracy to defraud the bank or that he laundered or concealed money fraudulently misappropriated from the bank. On the sum of $6.5 million involved, Mr.

Vaswani, as his lawyers explained, "gave full consideration as a bonafide purchaser without notice of the fraudulent misappropriation of that money from that bank together with interest and cost.

Mr. Vaswani's lawyers based their logic on the catgorisation of defendants by his accusers.That is substantive defendants are those against whom restitution for knowing receipt is sought and a claim for dishonest assistance in breach of trust is made. The latter group is otherwise known as "Dishonesty claim Defendants." The particulars of claim further state how primary transfers were made to or for the benefit of Naresh Asnani, Shamdas Asnani,Payal Asnani, Ishwari Asnani, Chief Nwude Odinigwe, Rik Chemicals plc ("Rik"), Mr. Kachi, Chief Festus Okonkwo, Macdaniels Limited, Chief Ezeugo Dan Nwandu and Fynbaz Nigeria Limited. The Swiss Bank accounts were used to make secondary transfers to, amongst others, Payal and Ishwari Asnani, Sherina, Chief Nwude Odinigwe, Globe International Holdings SA ("Globe"), Mr Kachi, Chief Okonkwo, the sixth defendant, Mamelec Trading Pte Limited, Doulatram HK, and to Feesok International Limited ("Feesok"), some or all of whom made payments to other conspiracy defendants or co-conspirators. These include some Nigerian banks.

Of the sum transferred to England, the sum of $14.25 million was transferred to accounts in the name of Union Trust Building Society, a Nigerian building society, held at American Express Bank Limited and London Trust bank in London.

In respect of the Swiss Bank accounts, the Landmark/Evershine account was maintained in the name of Naresh and Shamdas Asnani. The signatories to the Pentagon account were Naresh, Shamdas and Payal Asnani. The signatory to the Excel account was Naresh Asnani while Shamdas and Payal Asnani held general power of attorney in respect of that account.

The claimants were sure that almost without exception, the sum of money paid into the Swiss bank account (which were closed after the fraud had ceased to operate) were monies fraudlently misappropriated from Banco Noroeste. The amounts of the bank's monies received into the Swiss Bank accounts, and accordingly by each of Naresh Asnani, Shamdas Asnani and Payal Asnani respectively totalled $121,987,500.

Iloenyosi purchased two properties on about 5 June 1997 on behalf of Nwude.

The properties were at 223 S Lasky Drive and 9920 Robbins Drive, Beverly Hill, California, where the Hollywood stars also have their homes.

On about 16 May 1997, she purchased the property at 1913 Speyer Lane Redondo Beach, California and on 29 September 1997, she purchased another at 2756 Gremercy Avenue, Torrance, California. Each property was purchased as nominee of Chief Anajemba. Mrs. Iloenyosi also purchased the 1913 Speye Lane property utilizing a sum of $470,000 remitted to her account at Wells Fargo, number 0607737533 on 8 May 1997 by Campbell Tobacco Rehandling Co. Inc, a Kentucky company from funds held on behalf of Anajemba in a dedicated bank account at Fifth Third Bank in Louisville, Kentucky. She also purchased the 2756 Gremercy Avenue property utilizing $447,500 remitted to the account of Warranty Escrow Co Palos Verdes Estate (a California company) at City National Bank account number 013-018847 on 22 September 1997, and $10,000 remitted to her account at Well Fargo Campbell Tobacco.

On 11 September 1997 the property at 1913 Speye Lane was transferred by Mrs.

Iloenyosi to Anajemba by way of gift, and on 6 April 1998, the property at 2756 Gremercy Avenue was also transferred by her to Anajemba, also by way of gift. After Anajemba died, the properties were sold and the proceeds were remitted to a trust in favour of Mrs. Amaka Anajemba. The trust was known as the Amaka Anajemba Qualified Domestic Trust. On 29 April 1998, Iloenyosi purchased the property at 15223 South Normandie Avenue, Garden, California.

Mrs. Anajemba claims that this property was owned by Chief Anajemba at the date of his death. Iloenyosi, because of her involvement in these transactions, is alleged by the claimants to be a party to the scam as a conspirator.

Between 20 May 1995 and 26 January 1996, Chief Okonkwo, according to the claims, received sums totalling $1,440,000 out of the monies fraudulently misappropriated from Banco Noroeste On 17 July 1995, the sum of $250,000 was paid by way of primary transfers into Okonkwo's acount at Halifax plc. Staines, number 2/38266468-7 and a further primary transfer of $250,000 was paid into his account at the London branch of a Nigerian bank. On September 1995, a further primary transfer of $250,000 was made to Okonkwo by Feesok, a Nigerian company of which he was a director. The payment was made by a cheque signed by him. Feesok itself received the sum of $250,000 from the Landmark/Evershine account on 24 October 1995 into its account with yet another London branch of a Nigerian bank.

On April 1996 Feesok made a payment to Rik of $7,000 by way of cheque (number 427) in favour of Rik and signed by Chief Okonkwo. He received further sums derived from the Swiss Bank accounts from the sixth defendant.

Chief Okonkwo was a director of Feesok, which made payments to him and to Rik, which itself received primary transfers.

Doulatram HK was incorporated in Hong Kong on 26 March 1958. Its directors are Anil and Vashimal Gobindram Melvani, and it has four branches or related companies: Doulatram (Nig.) Ltd (Nigeria), G. Doulatram & Sons (HK) Ltd (Taiwan Br), GDM Textiles Manufacturing (Nigeria) and G Doulatram and Sons (UK) Ltd (United Kingdom). The company has bank accounts at the Bank of India, Hong Kong, and BNP Paribas, Port Villa, Vanuatu, into which it received secondary transfers from the Landmark/Evershine account in the sum of $3,545,580 in 1995 and 1996.

Further, in May 1997, third-level transfers totalling $55,000 were made to G Doulatram from the account of a Nigerian bank in Bankers Trust London into which secondary transfers were made from the Swiss Bank accounts. It is not clear to which branch of the company this money was paid, but in the circumstances, the claimants, say it may be inferred that the recipient was a branch of or an associated company to Doulatram HK. The company is therefore regarded as a co-conspirator.

The role of some of the banks in the transfers was, surprisingly, not clearly stated. Although some banks in Nigeria like African International Bank and Ecobank were mentioned in cross-transfers, they were not listed in the schedule on defendants. On City Express Bank which was listed as one of the 42 defendants, the particulars of claims provided no details of its role.

If the prayers of the claimants are answered, they may yet recover a substantial percentage of the stolen sum. Already about $50 million has been recovered from the sale of some seized properties. The claimants are praying the London High Court to, among others, order the defendants to pay back to Bank Noroeste, whatever amount of the loot had come to them.

Would their prayers be answered?

SWIFT TRANSFERS Calculation Of The Sum Of $190,294,401.11 Lost By The Bank As A Result Of The Operation Of The Combination.

AMOUNT US$

$93,500.00 $335,000.00 $350,400.00 $460,000.00 $750,000.31 $1,150,000.00 $1,573,000.80 $1,750,000.00 $2,800,000.00 $1,000,000.00 $1,000,000.00

$1,290,000.00 $1,270,000.00 $1,250,000.00 $785,000.00

$550,000.00 $250,000.00 $1,250,000.00 $250,000.00

$1,000,000.00 $800,000.00 $250,000.00

$1,200,000.00 $1,200,000.00 $500,000.00 $550,000.00 $500,000.00 $1,200,000.00 $1,500,000.00 $1,500,000.00 $1,000,000.00 $1,000,000.00 $250,000.00 $2,000,000.00 $2,000,000.00 $2,550,000.00 $3,000,000.00 $1,000,000.00 $1,700,000.00 $2,750,000.00 $3,975,000.00 $1,025,000.00 $4,000,000.00 $3,000,000.00 $2,000,000.00 $3,000,000.00 $6,585,000.00 $2,500,000.00 $5,000,000.00 $2,000,000.00 $2,200,000.00 $1,300,000.00 $1,700,000.00 $125,000.00 $850,000.00 $375,000.00 $1,350,000.00 $375,000.00 $415,000.00 $3,575,000.00 $4,975,000.00 $500,000.00 $2,000,000.00 $300,000.00 $4,430,000.00 $255,000.00 $280,000.00 $1,750,000.00 $3,675,000.00 $1,989,500.00 $3,345,000.00 $2,750,000.00 $4,872,500.00 $2,300,000.00 $3,550,000.00 $2,745,500.00 $3,100,000.00 $250,000.00 $4,750,000.00 $6,245,000.00 $3,605,000.00 $2,500,000.00 $1,000,000.00 $2,850,000.00 $2,000,000.00 $2,100,000.00 $3,850,000.00 $4,200,000.00 $3,475,000.00 $5,000,000.00 $4,345,000.00 $4,750,000.00 $850,000.00 $4,750,000.00

$190,294,401.1 BENEFICIARY

UTB FOREX/OCEAN MARKETING CO. (NIG) LTD UTB FOREX/OCEAN MARKETING CO. (NIG) LTD UTB FOREX/OCEAN MARKETING CO. (NIG) LTD UTB FOREX/OCEAN MARKETING CO. (NIG) LTD UTB FOREX/OCEAN MARKETING CO. (NIG) LTD GBN-CHRYSTAMB SERVICES LTD.

UTB FOREX/OCEAN MARKETING CO. (NIG) LTD GBN-CHRYSTAMB SERVICES LTD.

GBN-CHRYSTAMB SERVICES LTD.

PAYAL UNION TRUST BUILDING SOCEITY LTD.

CROWN MERCHANT/AFRICAN SHELTER BUREAU CRYSTAL BANK/E. ODINIGWE PAYAL RIX CHEMICAL LTD CROWN MERCHANT/AFRICAN SHELTER BUREAU FESTUS NC OKONKWO UNION TRUST BUILDING SOCIETY LTD FESTUS NC OKONKWO CROWN MERCHANT/AFRICAN SHELTER BUREAU PAYAL RIX CHEMICAL LTD

CRYSTAL BANK/E. ODINIGWE PAYAL NWUDE CHRISTIAN KACHI TRIUMPH MERCHANT BANK/AFRICAN SHELTER INDUSTRIAL BANK LTD./MACKLEY NIG. LTD.

FYNBAZ NIGERIA LTD.

PAYAL FYNBAZ NIGERIA LTD.

USS LANDMARK FESTUS NC OKONKWO CRYSTAL BANK/FYNBAZ NIGERIA LTD.

USS LANDMARK USS LANDMARK USS LANDMARK UNION TRUST BUILDING SOCIETY LTD.

USS LANDMARK USS LANDMARK FYNBAZ NIGERIA LTD.

COMET BANK/FYNBAZ NIGERIA LTD.

USS LANDMARK UNION TRUST BUILDING SOCIETY LTD.

FYNBAZ NIGERIA LTD.

UNION TRUST BUILDING SOCIETY LTD.

USS LANDMARK USS LANDMARK UNION TRUST BUILDING SOCIETY LTD.

EMRUS NIGERIA LTD.

EMRUS NIGERIA LTD USS LANDMARK EMRUS NIGERIA LTD.

USS LANDMARK EMRUS NIGERIA LTD.

FYNBAZ NIGERIA LTD.

EMRUS NIGERIA LTD.

EMMANS INTEBIZ (NIG) LTD.

USS LANDMARK USS LANDMARK USS LANDMARK EMRUS NIGERIA LTD.

USS LANDMAKR EMRUS NIGERIA LTD.

USS LANDMARK EVERSHINE EVERSHINE MACDANIELS LIMITED EVERSHINE EVERSHINE EVERSHINE MACDANIELS LIMITED EVERSHINE EVERSHINE MACDANIELS LIMITED EVERSHINE EVERSHINE EVERSHINE EVERSHINE EVERSHINE EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL EXCEL PENTAGON CO LTD.

PENTAGON CO LTD.

RECIPIENT BANK

CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK BANKERS TRUST CITIBANK BANKERS TRUST BANKERS TRUST UCO BANK (HONG KONG) AMERICAN EXPRESS BANK LTD. (LONDON) AUSTRALIA & NEW ZEALAND AUSTRALIA & NEW ZEALAND UCO BANK (HONG KONG) BARCLAYS BANK PLC AUSTRALIA & NEW ZEALAND HALIFAX PLC LONDON TRUST BANK UNION BANK NIGERIA AUSTRALIA &NEW ZEALAND UCO BANK (HONG KONG) BARCLAYS BANK PLC AUSTRALIA & NEW ZEALAND UCO BANK (HONG KONG) HONG KONG & SHANGHI BANKING CO.

AUSTRALIA & NEW ZEALAND - LONDON BANQUE FRANC L'ORIENT -LONDON COMMERCIAL TRUST BANK COMMERCIAL TRUST BANK UCO BANK (HONG KONG) COMMERCIAL TRUST BANK LLOYDS BANK PLC HALIFAX PLC AUSTRALIA & NEW ZEALAND LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC LONDON TRUST BANK LLOYDS BANK PLC LLOYDS BANK PLC HILL CREST MERCHANT BANK LTD BYBLOS BANK - BELGIUM LLOYDS BANK PLC LONDON TRUST BANK GULF BANK OF NIGERIA LTD LONDON TRUST BANK LLOYDS BANK PLC LLOYDS BANK PLC LONDON TRUST BANK NIG. INTERCONTINENTAL MERCH. BANK LTD NIG. INTERCONTINENTAL MERCH. BANK LTD LLOYDS BANK PLC NIGERIAN NIG. INTERCONTINENTAL MERCH. BANK LTD LLOYDS BANK PLC NIGERIAN INTERCONTINENTAL MERCHANT BANK LTD HILLCREST MERCHANT BANK LTD NIG. INTERCONTINENTAL MERCH. BANK LTD GULF BANK OF NIGERIA LTD LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC NIG. INTERCONTINENTAL MERCH BANK LTD LLOYDS BANK PLC NIG. INTERCONTINENTAL MERCH. BANK LTD LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC BARCLAYS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC BARCLAYS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC BARCLAYS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC LLOYDS BANK PLC CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK CITIBANK

DATE

05/02/95 05/09/95 05/15/95 05/19/95 05/25/95 05/30/95 06/05/95 06/08/95 06/14/95 06/26/95 07/07/95

07/10/95 07/10/95 07/10/95 07/12/95 07/17/95 07/17/95 07/17/95 07/17/95 07/25/95 07/25/95 07/31/95 08/09/95 08/10/95 08/13/95

08/16/95

08/16/95 08/25/95 08/25/95 09/05/95 09/05/95 09/06/95 09/14/95 09/14/95 09/27/95 10/17/95 10/17/95 10/25/95 11/06/95 11/14/95 11/16/95 11/24/95 11/24/95 12/08/95 12/08/95 12/15/95 12/22/95 12/22/95 02/12/96 03/06/96 04/01/96 04/01/96 07/02/96 07/02/96 07/09/96 07/09/96 07/11/96 07/17/96 07/17/96 08/07/96 08/07/96 10/16/96 10/16/96 10/23/96 02/28/97 03/04/97 03/06/97 03/06/97 03/11/97 03/11/97 03/12/97 04/23/97 04/23/97 04/25/97 05/02/97 05/13/97 05/20/97 05/20/97 05/22/97 06/17/97 06/17/97 06/24/97 06/24/97 07/03/97 07/03/97 07/24/97 08/06/97 08/20/97 10/01/97 10/09/97 10/28/97 01/13/98 01/20/98

LIST OF DEFENDANTS (1) Macdaniels Limited whose registered office is at 214, Romford Road, London E7 9HY (2) Chief Ezugo Dan Nwadu of 157, Chase Cross Road, Collier Row, Romford RM5 3YR (3) Amaka Martina Anajemba of Flat 9, Crown Court, 123 Park Road, St.

Marylebone, London NW8 7JH; alternatively of 10 Iheka Street, Ekelu West GRA, Enugu, Enugu State, Nigeria; alternatively of Godax House, 4 Ogui Road, Enugu, Enugu State, Nigeria; alternatively of c/o Obum O Osakwe, Onochie Chambers, No. 2A Colliery Avenue, P.O. box 1386 GRA, Enugu, Nigeria; (4) Chief Innocent Anajemba of Godax House, 4 Ogui Road, Enugu, Enugu State, Nigeria; alternatively of c/o Obum O Osakwe, Onochie Chambers, No. 2A Colliery Avenue, P.O. Box 1386 GRA, Enugu Nigeria; (5) Dax Petroleum Nigeria Limited of Godax House, 4 Ogui Road, Enugu, Enugu State, Nigeria; (6) Primole Communications Limited of Godax House, 4 Ogui Road, Enugu, Enugu State, Nigeria; (7) Fynbaz Nigeria Limited of Godax House, 4 Ogui Road, Enugu, Enugu State, Nigeria; (8) The Chief Land Registrar, HM Land Registry, Lincoln's Inn Fields, London WC2A; (9) The Senior Registrar, The Principal Registry of the Family Division (Probate), High Holborn, London WC2; (10) HM Commissioners of Inland Revenue (Capital Taxes), Ferrers House, P.O.Box 38, Castle Meadow Road, Nottingham, NG2 IBB (11) T-Mobile (UK) Limited, Imperia place, Maxwell Road, Borehamwood, Hertfordshire WD6 1EA (12) Peter Odilinye of Flat 6, Highview House, 6 Queens Road, London NW4 2TH; (13) National West Minister Bank Plc 135 Bishopsgate, London EC2M 3UR (14) Messrs Bude Storz, Solicitors of 220 Stamford Hill Road, London N16 (15) Egole & Co. Solicitors of 160, Tollington Park, London N4 (16) Mr. R Ally, solicitor, of 37 Cheshire Road, London SE20 7RG (17) Dyke Consultants Limited of Flat 8, Highview House, 6 Queens Road, London NW4 2TH (18) Chief Emmanuel Ezenwanmadu of 15 Alfred Olaya Street Lagos, Nigeria, Africa; (19) Florence Nwude of 27 Cumbrian Garden Cricklewood, London NW2 1EB (20) City Express Bank Limited, of plot 1637, Adetokunbo Ademola Street, Victoria Island, Lgos Nigeria; (21) British Telecommunications plc, of BT Centre, 81 Newgate Street London EC1A 7AG (22) Gulf Bank of Nigeria Limited, of 42 Afribank, Victoria Island Lagos, Nigeria.

(23) Union Trust Building Society of Western House, 8/10 Broad Street Lagos, Nigeria and of Plot 85B, Ajose Adeogun Street, Victoria Island Annexes Lagos, Nigeria (24) Royds Tradewell Solicitors, of Royds Tradewell, 2 Crane Court, London EC4A 2BL (25) City Express Bank Limited of Plot 1637, Adetokunbo Ademoila Street, Victoria Island, Lagos Nigeria (26) Peter Brown and Co. Solicitors, of 869 High Road, London N12 (27) Union Bank of Nigeria of 14-18 Copthall Avenue, London EC2R 7BN (28) Lloyds TSB Bank plc of Worldwide Services, 1Waterloo Place, London, SW 1Y 5NJ (29) Barclays Bank plc of 220 Stamford Hill, London, N16 (30) Selfridges Retail Limited of 400 Oxford Street, London W1A 1AB (31) Suresh Dalamal of Flat 10 Pavillion, 34 St. John's Wood Road, London NW8 (32) Sunita Dalamal of Flat 10 Pavillion, 34 St. John's Wood Road, London NW8 (33) Maples Teesdale, 21 Lincoln's Inn Fields, London WC2 (34) Dalamal & Sons (London) Limited of suite 19, 4th Floor, Regent House, 24 25 Nutford Place, London, W1H 5YN (35) Bank Julius Baer and Co. Bevis Marks House, Bevis Mark, London EC3; (36) Payal Asnani of 61 Berkley Court, Glentworth Street, London NW1 5NB (37) Nariandas Parmanand Kirpalani of 43/45 York Terrace West, London NW1 (38) Minsk Investment Company Limited of Kayman Internation Trust Co. Ltd P.O.Box 30500, George Town, Grand Cayman, British West Indies.

(39) Montana Trading Company Limited of Cayman International Trust Co. Ltd.

P.O.Box 30500, George Town, Grand Cayman, British West Indies.

(40) Vodafone Group plc of the Courtyard, 2-4 London Road, Newbury, Berkshire, RG 14 1JX; (41) American Express Bank Limited of 60 Buckingham Palace Road, London SW1W ORR.

(42) Sunil Sunderdas Vaswani of 16 Beverley House, 133-135 Park Road, London NW8 7JD or 270 A Ajose Adeogun St. Victoria Island, Lagos Nigeria.

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