ABACHA’S BROTHER DUPES KUWAITI BIZMAN OF $1.3 MILLION

Late Gen. Sanni Abacha

A man identified as the younger brother of late Nigerian Dictator, General Sanni Abacha has been named as one of three conmen who between 2001 and 2002 duped a Kuwaiti Trading cum offshore portfolio Management Company of over $1.3 Million (about N137 Million).

According to a report in the authoritative Business Law Report of London of February 2007, the Kuwaiti Company, Khalid Al-Fulaij & Sons General Trading &Contracting Company, was approached by the younger brother of late Sanni Abacha, Alhaji Abacha, Mr. Bello and a third man, Aboubakar Maiga for the express purpose of receiving an estimated $65 Million (N6.7 Billion) part of the fortune of the late Nigerian Head of State.

According to the report the money was, supposedly, meant to be taken out of Nigeria and be invested from the Abacha family trust.

The report says: “In a series of meeting, the claimants agree to identify suitable investments and to manage those investments on behalf of the trust. In return the claimants were offered 40% of the trust capital and 15% of its income.” The reports further stated that “A formal agreement was entered into on 14 August 2001.”

Nigerian scammers have increasingly run into stone walls in the U.S and United Kingdom but they seem to be finding new gullible victims in the Arab world, innocent victims who suck up to cultural and religious affinities with Muslims in the country. In what looks like a usual 419 antics, the Kuwaiti businessman wired all the money involved in the transaction to defunct City Express Bank, Apapa, Lagos held in HSBC, London for an onward transfer to a client of that Bank described as Trust International.

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The Kuwait had paid $400,000 on January 9, 2002 and another of $225,000 on February 5, 2002.

According to the report, “the bank transferred equivalent sums of the money in naira to its client’s account held at its branch in Apapa, Nigeria. The actual name of the client was Trusty (not Trust) International. Its principals, who used the names of Yusuf Ibrahim and Nasir Saminu, were accomplices in the fraud.”

The report which is cited as one of a landmark ruling added that “No trust money ever materialized. The fraudsters disappeared. Messrs Ibrahim and Saminu cleared the money out of their company’s account almost as soon, if not before, it had reached it.”

The Kuwaiti businessman made an attempt to recoup his money by pursuing legal options. He sued Abacha and co and the bank involved in the scam. The British Court of Appeal agreed with the Kuwaiti Businessmen that Alhaji Abacha and co acted in breach of a contract but that the City Express Bank could not be held responsible since it was not involved in preliminary talks before the scam was perpetuated.