A German businessman has told the $143 million fraud trial he lost one million deutschmarks in a Nigerian banking fraud that had connections to an illegitimate Dublin finance company.
Mr Heinz Althoff said he was offered 10 per cent of a $56.5 million payment if he agreed to transfer the money from Nigeria to his company's bank account in Frankfurt on behalf of Nigerian business interests.
He said he fully intended to pay the Nigerians their share because he feared for his life. "You can hire the Russian Mafia for only $2,000," he told Dublin Circuit Criminal Court.
Mr Althoff said he paid the DM1 million to the Nigerian group as an advance fee but never received the $56.5 million.
The accused are: Mr Christian Obumneme (35), Prussia Street, Dublin; Mr Thomas Anthony O'Brien (61) and Mr Raymond Folkes (38) both of London; Mr Achike Okigbo (26), Blessington Street, Dublin and Mr Obiora Uzodike (29), Oakcourt Avenue, Palmerston.
They have all pleaded not guilty to trying to defraud Mr Heinz Althoff between February 1st, 1999 and March 3rd, 1999. They are also charged with fraud offences against an American businessman. Messrs O'Brien, Folkes, Obumneme and Uzodike face other fraud charges.
The trial continues.