Word: abacha
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...recent cases the laws brought striking results. Banking regulators publicly reprimanded several Swiss banks?by name?for keeping accounts belonging to relatives of the former Nigerian dictator Sani Abacha. And it was the Swiss in the autumn of 2000 who tipped off Peru that Vladimiro Lenin Montesinos Torres, the former head of Peruvian intelligence, had stashed away about $114 million in five Swiss accounts. Judicial authorities in Zurich blocked the accounts after the banks themselves reported their suspicions. The Swiss ambassador in Lima then informed the Peruvian government and urged it to open an international criminal investigation, with which Switzerland...
Switzerland's banking regulator has an effective weapon to enforce the many new regulations it has put in place over the past decade: public embarrassment. Take the case of former Nigerian President Sani Abacha. At the end of 1999, the Swiss government froze all assets identified as being linked to Abacha, about $660 million, and the Swiss Federal Banking Commission began a full-scale inquiry into how and why the money had come to Switzerland. The regulator?s report, issued in August 2000, was damning?to banks. While five institutions had behaved according to Swiss money-laundering laws and procedures...
...most common con, accounting for 9% of all e-mail fraud, is the infamous Nigerian Letter. I got one from a Mr. ABBA ABACHA (his caps-lock key appears to be stuck) who claims to be a Nigerian official with $25 million that he needs to smuggle out of the country. If you try to help, he will hit you for processing fees and "advance loans," and you will never see a dime. In the past few months, this well-worn scam has been evolving, so watch out for new variants involving Afghan war booty or a secret trove...
...things that people couldn’t say in Nigeria, they could say here,” he recalls. “At that point [Abacha] was totally deranged. He was either killing people or putting them in jail...
...Adio worked toward acceptance in the U.S., the political climate in his native country changed drastically. Abacha died in 1998, and Adio sees the potential for democracy to take root in his native country both as a gift and as a challenge to Nigerian journalists...