Ethiopian bank loses $27 million in fraudulent withdrawal – APA-Addis Ababa (Ethiopia)

October 24th, 2008 Print Print Email Email

Ethiopian National Bank admitted on Thursday that $27 million has been withdrawn fraudulently from its City Bank account in New York by three Nigerians. (more…)

Ethiopian National Bank admitted on Thursday that $27 million has been withdrawn fraudulently from its City Bank account in New York by three Nigerians.

The bank, however, said the withdrawal has no affected its domestic operations.

“We have observed that South Korean police had arrested three Nigerians for allegedly obtaining millions of dollars from Citibank with a forged document purportedly from Ethiopia’s National Bank,” the bank said.

It was reported that the suspects were caught on Monday in the Yongsan district of Seoul following a tip-off from a local bank employee.

In August the trio allegedly sent a forged payment request from the Ethiopian national bank to Citibank in New York, according to the Ethiopian bank.

They asked for more than 30 million dollars to be sent to bank accounts in several countries, including South Korea, China and Tanzania.

According to the Ethiopian National Bank, the money that was withdrawn in the name of the Ethiopian bank will soon be returned to the City Bank in New York.

“This fake withdrawal was carried out with fake photo copy documents and fax messages. There is no connection with the suspected Nigerians and employees of the Ethiopian National Bank. We have been informed by City Bank that the money will soon be returned to Ethiopian saving account there,” said the bank.

The bank said the Nigerians were arrested while trying to withdraw some few remaining money from the bank in Seoul.

Two of the suspects were in South Korea on business visas while a third was an illegal immigrant. Their names were withheld.

  1. DEMOCRACY
    | #1

    Nigerians are well known
    by making a forged document.even they can sell the country. I do not want Nigerian teacher in my country.

  2. watcher
    | #2

    well the bank is lucky that these people caught red-handed and got its money back . These Nigerians are the people who mess Africa in fraud and create negative implication towards Africa.
    by the way be careful with their fraudulent e- mails as well

    watcher.

  3. habtamu
    | #3

    THE STUDY OF FEEDING
    It is desire
    Intimate to create
    Unfortunate revenge
    Historically nothing
    Why?
    The study of feeding
    The foreigner’s calculation
    The viz election
    Democracy, autocracy collection
    Fair and free election
    To prevail Africa no expectation
    Why?
    The study of feeding
    Is that predominate democracy
    Rooted on eating
    Basic needs amusement
    To yield freedom
    To scatter immigrant
    Lack of awareness constancy
    Why?
    The study of feeding
    Operation of feeding
    Thinking of schooling
    Swallowing unmistakably
    Own people obviously
    Precisely (exactly)
    Why?
    The study of feeding
    Feeding as the sequence
    Inevitable revenge
    Colonized by its own son
    Un civilized people
    The remain very poor
    Indefinitely suffering
    Why?
    The study of feeding
    Habtamu engida Khartoum,sudan

  4. habtamu
    | #4

    thanks
    god blassu

  5. Alex
    | #5

    Check out this video related to the story: http://www.ethiotube.net/video/1160/News–$27-Million-Bank-Fraud

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