International Digest

Nigerian native gets 18 years for credit fraud
FARGO, North Dakota – Nigerian-born Adenkunle Adetiloye, a Canadian citizen was sentenced Monday to nearly 18 years in prison on fraud charges.
Adetiloye was unemployed and received social welfare but was still living lavishly, complete with a Range Rover vehicle, extended trips to England and an expensive condominium.

US authorities described the case as one of the largest high-tech bank robberies in US history.He was convicted of mail fraud, but authorities believe he masterminded a scheme to open nearly 600 fraudulent bank accounts and bilk 22 major banks out of hundreds of thousands of dollars.Federal prosecutor Nick Chase said during the sentencing hearing in North Dakota that Adetiloye had an ‘insatiable hunger for other people’s money’.
US fraudster admits plot to kill witnessNEW YORK – The convicted mastermind of a US$100 million mortgage fraud scheme admitted Monday to plotting the death of a key witness in his trial while behind bars, with an undercover investigator posing as a hit man.Former AFG Financial Group Inc. President Aaron Hand pleaded guilty to conspiracy to commit murder. Prosecutors had said he gave the phony contract killer money to buy a gun, issued detailed instructions – including how to make the murder look like a gang attack – and agreed to pay US$2 000.He was sentenced 25 years in jail and have already served eight years of the term.OECD urges tougher rules for Swiss banking giantsGENEVA – Stricter bank rules drawn up by the Swiss government to prevent the need for costly bailouts do not go far enough, the Organisation for Economic Cooperation and Development said yesterday.In its latest survey, the body urged more stringent – and speedier – regulations for Switzerland’s two biggest banks to protect the economy and taxpayers in times of financial crisis.Credit Suisse and UBS ‘continue to pose large systemic risks,’ the OECD warned.