Nigerian Prince defrauded by Wall Street bankers

September 7, 2009

A Nigerian Prince has been bilked out of hundreds of millions of dollars by former Wall Street bankers. The bankers, all of whom were fired for contributing to the credit crisis and bail-out of banks, used to work in complex derivative instruments.

(Editor’s note: cut to the chase, nobody understands this stuff anyway).

The bankers asked the prince for help in transferring hundreds of millions of dollars to a secret Swiss bank account. But rather than reimburse the prince for his troubles, the bankers emptied the prince’s account. The Nigerian Prince (who is not the black man pictured but nonetheless just as sad) had planned to donate the proceeds to a cancer hospital. He has now vowed never to help anyone again.

“This scam has been going on for years and years,” police said. “The bankers present themselves as savvy market participants but then go out and invest in extremely risky financial products while telling their victims their money is safe.”