The risk of doing business in Iraq for Nigerians

Essay by Keir March 2006

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Dear Friend,

Many have been the times we have been offered urgent and very confidential business propositions. One such example fell on May 20, 1999, when an Iraqi Foreign Oil consultant/contractor with the NIGERIAN MINNING COOPERATION, a Mr. Dara Baraz, made a numbered time (Fixed deposit) for 24 calendar months, valued at US$10,000,000.00 (Ten Million Us dollars only) in this bank.

Upon maturity in 2001, I was sent a routine notification to his forwarding address but received no reply. After about a month, we sent a reminder and finally we discovered from his contract employers,the NIGERIAN MINNING COOPERATION that Mr. Dara Baraz died as a result of torture in the hand of Sadam Hussein during one of his trips to his country Iraq.

On further investigation, I found out that he died without making a WILL, and all attempts to trace his next of kin was fruitless.

I therefore made further investigations and discovered that Mr.

Dara Baraz did not declare any kin or relations in all his official documents, including his Deposit paperwork.

This sum of US$10,000,000.00 has been floating as unclaimed since 1999 as all efforts to get his relatives have hit the stones.

According to Nigerian law at the expiration of 6 (six) years, the money will revert to the ownership of the Nigerian Government if nobody applies to claim the fund and the six years is the end of MAY, 2006.

Consequently, my proposal is that I want to seek your consent as a foreigner to stand in as the owner of the money as the next of kin to the deceased so that the bank will transfer the money to your designated account.

All documents and proves to enable you get this fund will be carefully worked out. I have secured from the probate an...