Nigerian Senator Neda Bernards Imasuen, who currently leads the Senate Ethics Committee, was allegedly involved in a massive $25 million bank fraud in the United States before fleeing to Nigeria, where he built a successful political career.
According to U.S. court documents reviewed by Peoples Gazette, Imasuen played a key role in orchestrating fraudulent mortgage transactions that defrauded at least 33 banks, including Citi Bank, HSBC, and Wells Fargo. He was later identified by the Federal Bureau of Investigation (FBI) as a facilitator of the scheme but escaped to Nigeria before legal action could be taken against him.
How Neda Imasuen Was Linked to the Bank Fraud
The FBI investigation found that Imasuen, a lawyer at the time, was the legal representative who facilitated fraudulent transactions on behalf of his co-conspirators.
The fraudulent scheme, which took place between 2008 and 2009, involved using straw buyers—individuals with good credit scores—to fraudulently secure loans from financial institutions. These individuals were financially induced to apply for loans under false pretenses, violating federal banking laws.
A federal grand jury indictment filed on December 14, 2012, revealed that Imasuen and his associate, Imran Ismile Badoolah, manipulated loan applications to illegally obtain funding from banks.
In 2017, Judge Kiyo Matsumoto of the U.S. District Court for the Southern District of New York sentenced Badoolah to 30 months in prison, along with five years of probation and an order to repay the stolen funds. While Badoolah was convicted, Imasuen was listed as an “unindicted co-conspirator”—a term used when someone is linked to a crime but has not been formally charged.
Fleeing to Nigeria: From Legal Trouble to Political Power
Shortly after the fraudulent scheme was uncovered, Imasuen left the United States in 2010—the same year he was disbarred by the Supreme Court of New York for professional misconduct.
His public profile states that after returning to Nigeria, he worked as a consultant for the World Bank and the European Union, assisting Nigerian state governments with development projects. However, it remains unclear how he continued to practice law in Nigeria despite being disbarred in the U.S.
In 2023, Imasuen was elected as the Senator representing Edo South under the Labour Party, rising to the influential position of Chairman of the Senate Ethics Committee—a role that has sparked criticism given his past.
Silence Amidst Scandal
Since the story of his involvement in bank fraud and disbarment resurfaced, Imasuen has failed to respond to multiple media inquiries.
Attempts to obtain clarification from the senator were met with silence, despite earlier promises to provide an official statement. The Peoples Gazette contacted Imasuen on Sunday evening, but as of Tuesday morning, he had not responded.
Additionally, the Nigerian Supreme Court department responsible for certifying legal practitioners has not commented on how Imasuen was able to continue practicing law in Nigeria despite his U.S. disbarment and legal troubles.
Ethical Concerns in the Nigerian Senate
Imasuen’s case is the latest in a series of revelations about Nigerian politicians with tainted pasts. His role in the recent suspension of Senator Natasha Akpoti-Uduaghan has further fueled criticism.
Akpoti-Uduaghan was suspended for six months after alleging that Senate President Godswill Akpabio sexually harassed her. Imasuen, as chair of the ethics committee, played a central role in her suspension, dismissing her accusations as baseless and harmful to the Senate’s integrity.
The controversy has raised serious questions about political accountability in Nigeria, with legal experts such as Chidi Odinkalu, Abdul Mahmud, and Femi Falana condemning the Senate’s actions as unconstitutional.
A Pattern of Disgraced Politicians?
Imasuen is not the only Nigerian politician with a discredited legal past.
In 2023, the Gazette exposed how Femi Gbajabiamila, former Speaker of the House of Representatives and current Chief of Staff to President Bola Tinubu, was disbarred in Georgia, USA for embezzling $25,000 from a client before fleeing to Nigeria.
The revelation about Imasuen adds to growing concerns that individuals with criminal records and ethical violations are occupying high-ranking government positions in Nigeria.
What’s Next for Neda Imasuen?
With mounting pressure, analysts believe Imasuen may be forced to address the allegations or risk losing his position in the Senate.
Meanwhile, critics are calling for:
- An official investigation into his legal background.
- Clarification from the Nigerian Bar Association on whether he is legally allowed to practice law.
- A review of Senate leadership positions to ensure individuals with ethical violations are held accountable.
As the scandal unfolds, Nigerians are left wondering: Will Imasuen finally speak out, or will this controversy further erode trust in the country’s leadership?
