Nigerian pleads guilty in $2m bank scam

A Nigerian man pleaded guilty to running an international investment scam that defrauded investors of more than $2,1-million.

Roland Adams (37) admitted that he conspired with others in Nigeria, South Africa and Canada to run the scheme, in which people were mailed letters supposedly from African government officials who wanted help in diverting millions of dollars held in bogus trusts or accounts.

In exchange for a future share of the fictitious money, the victims were persuaded to send in thousands of dollars to individuals or accounts around the world.

Adams, who owns Adams Business Services, gave the scheme an illusion of legitimacy by setting up websites such as Bancofafrica.com and Bancofeasterncarribean.com where victims could track the false transactions.

He faces up to five years in federal prison for mail fraud conspiracy and 20 years for conspiracy to launder money at his October 27 sentencing.

He was separately indicted on charges of making false statements during his naturalisation interview. If convicted, he could face 10 years in prison and deportation back to Nigeria. - Sapa-AP

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