A court has sentenced two men to a total of 37 years in prison for their part in defrauding a Brazilian bank of $242 million, the biggest scam in Nigerian history, newspapers reported on Saturday.
The sentencing of Emmanuel Nwude to 25 years and Nzeribe Okoli to 12 years follows negotiations in which they agreed to plead guilty to 16 of the 91 original charges, and to forfeit assets worth at least $121.5 million to the victims of the scam.
A third fraudster, Amaka Anajemba, was sentenced to two and a half years in prison in July after agreeing to return $48.5 million to the Sao Paolo-based Banco Noroeste, which collapsed after the theft.
“The activities of the accused persons not only led to the collapse of a bank in a foreign country, but also brought miseries to many innocent people,” Justice Joseph Oyewole was reported as saying.
The fraudsters obtained the money by promising a member of the bank staff a commission for funding a non-existent contract to build an airport in Nigeria’s capital Abuja.