Citibank fell for massive Nigerian scam

Taxpayers ponied up $45 billion in bailout funds to save Citibank. But word has it that the bank lost at least $27 million to Nigerian scammers:

To carry out the elaborate scheme, prosecutors in New York said on Friday... a Nigerian citizen who lived in Singapore, worked with others to create official-looking documents that instructed Citibank to wire the money in two dozen transactions to accounts that Mr. Amos and the others controlled around the world.

The money came from a Citibank account in New York held by the National Bank of Ethiopia, that country’s central bank. Prosecutors said the conspirators, contacted by Citibank to verify the transactions, posed as Ethiopian bank officials and approved the transfers...

Junior Cub Reporter Biff Spackle -- who survived the recent round of layoffs here at DR -- was able to lay hands on the actual letter used to scam the $27 million. It is presented here for the first time.

NO. 9 STEPHANAPOLOUS AV.
NEW HAVEN ENUGU CITY
ENUGU STATE, NIGERIA
FAX: 234-42-254548

URGENT TARP (TROUBLED ASSET RELIEF PROGRAM) ALLOCATION NOTICE

DEAR SIR,

IN ORDER TO TRANSFER OUT USD 270 MILLION DOLLARS (TWO HUNDRED AND SEVENTY MILLION DOLLARS) FROM OUR BANK, I WILL NEED ASSISTANCE FROM CITIBANK. YOU HAVE BEEN RECOMMENDED AS A RELIABLE AND HONEST PERSON WHO CAN HELP FACILITATE THIS TRANSACTION IN A TRUSTWORTHY MANNER.

I AM MR. STEVEN ANIAGO, EASTERN DISTRICT BANK MANAGER FOR ENUGU CITY BANK AFRICA PLC. WE RECEIVED IN ERROR USD 270 MILLION FROM THE FEDERAL RESERVE (TREASURY DEPARTMENT) FROM A MISTER TIMOTHY GEITHNER WHO GAVE US THIS MONEY AS PART OF AMERICA'S TROUBLED ASSET RELIEF PROGRAM (TARP).

WE BELIEVE THIS ERROR OCCURRED BECAUSE OUR BANK NAME, ENUGU CITY BANK, WAS CONFUSED WITH YOUR BANK NAME, CITIBANK. WE THEREFORE ARE TRYING TO CORRECT THE ERROR BY FINDING A CITIBANK OFFICIAL AND TRUSTING ACCOUNT TO WHOM WE CAN SEND THE USD $270 MILLION.

WE HAVE TRIED CALLING THE CITIBANK 800 NUMBER MANY TIMES, BUT HAVE BEEN UNABLE TO FIND AN OFFICIAL TO SPEAK WITH AS WE HAVE BEEN CAUGHT IN MANY FRUSTRATING VOICEMAIL MENUS THAT HAVE NO OPTION TO SPEAK TO A HUMAN PERSON.

I WANT TO TRANSFER THIS MONEY INTO A SAFE CITIBANK ACCOUNT ABROAD BUT I DON'T KNOW ANY CITIBANK OFFICIAL. I AM ONLY CONTACTING YOU BECAUSE THIS TRANSFER CAN NOT BE APPROVED WITHOUT YOUR HELP BECAUSE THE MONEY IS IN US DOLLARS AND THE BENEFICIARY ACCOUNT NAME IS CITIBANK.

I ONLY GOT YOUR CONTACT ADDRESS FROM THE COMPUTER BY SEARCHING FACEBOOK FOR CITIBANK OFFICIALS. BY THE WAY, YOUR WIFE IS QUITE HOT. YOU ARE THUS FAR THE ONLY PERSON THAT I HAVE CONTACTED. PLEASE REPLY URGENTLY SO THAT I WILL INFORM YOU THE NEXT STEP. SEND ALSO YOUR PRIVATE TELEPHONE AND FAX NUMBER INCLUDING THE DETAILS OF THE ACCOUNT TO BE USED FOR TRANSFER.

I WANT US TO MEET FACE TO FACE OR SIGN A BINDING AGREEMENT TO BIND US TOGETHER SO THAT YOU CAN RECEIVE THIS MONEY INTO YOUR TARP ACCOUNT OR ANY ACCOUNT OF YOUR CHOICE. I WILL USE MY POSITION AND INFLUENCE TO EFFECT LEGAL APPROVALS AND ONWARD TRANSFER OF THIS MONEY TO YOUR ACCOUNT WITH APPROPRIATE CLEARANCE FORMS OF THE MINISTRIES AND FOREIGN EXCHANGE DEPARTMENTS.

AT THE CONCLUSION OF THIS BUSINESS, THE CITIBANK ACCOUNT WILL BE GIVEN 100% OF THE TOTAL AMOUNT AND I WILL NOTIFIY MISTER TIMOTHY GEITHNER THAT FUNDS ARE SAFELY IN YOUR HANDS.

I LOOK FORWARD TO YOUR EARLIEST REPLY BY E MAIL AND FAX LINE: 234-42-254548.

YOURS TRULY MR. STEVEN,ANIAGO
EASTERN DISTRICT MANAGER
ENUGU CITY BANK

Heck, that would have fooled me.

Update: Financial Ninja says that Citigroup and Bank of America are dead.

Hat tips: Bob McCarty and Quatloos.