Sissoko: The Man Who Used Magic To Steal $242 Million
In today's Article, We're diving deep into the true story of Foutanga Babani Sissoko, the African businessman who executed one of the most audacious financial scams and bank robberies in history, This gripping true story unravels the cunning tactics of Sissoko, often likened to the infamous Nigerian Prince scam, and how he swindled $242 million from the Dubai Islamic Bank with claims of supernatural powers.
A mysterious African man walked into one of the banks in Dubai, he's not just any visitor, he has an unbelievable plan. With smooth talk and an air of mystery, he quickly becomes a close friend of the bank manager, then out of nowhere, he drops a bombshell, he claims he's a wizard who can double money using Jin and black magic.
This sorcerer with his persuasive charm and enigmatic Aura, doesn't just win over the bank Manager's trust, he turns him into an unwitting accomplice, the manager Spellbound and captivated facilitates the transfer of a staggering sum $242 million.
But the African sorcerer's tale doesn't end there, he Journeys to America where he begins lavishly spending his Newfound Fortune, he indulges in every whim luxury cars, opulent houses, exquisite jewelry and the company of beautiful women. he seems Untouchable living a life that most can Only dream of.
However things take a dramatic turn his flashy lifestyle catches the wrong kind of attention and soon he's caught up in a messy legal battle with the US government.
This story is among the most astonishing and peculiar stories you will ever hear. it's a narrative of fraud operating on an entirely different level, so make sure to read it to the end.
Is it True
Today We're diving into a truly peculiar story, some might think it's a work of fiction or Embellished with lies, but this story is grounded in reality, without any exaggeration, American court cases confirm the story's reality along with testimonies from lawyers and substantial evidence we'll explore all these details in this Article.
Who’s is the Scammer
Our protagonist is a man named Foutanga Babani Sissoko from Mali, the events date back to 1995. When Sissoko went to Dubai which was instilled as a major tourism and economic Hub in the region attracting People from various countries and ethnicities to establish businesses and trade.
Sissoko Went to Dubai
However upon his arrival in Dubai on a business Visa, Sissoko went to the “Dubai Islamic Bank (DIB)” one of the largest banks in the city, He went straight to the main branch and insisted on meeting the Bank manager, his named Muhammad Ayoub, the employees were surprised. it's not usual for someone to walk in and demand to see the bank manager immediately.
Despite this Sissoko persisted until he got a Meeting with Ayoub, when Ayoub inquired about the purpose of his visit Sissoko requested a car loan. typically certain criteria are needed for a loan like having a job or a steady income which Sissoko didn't have, especially as a recent arrival in Dubai however he somehow convinced Au to Grant him a car loan without any collateral. Afterward Sissoko thanked Ayoub and invited him to his apartment for dinner, initially Ayoub was hesitant but Sissoko insisted and to Persuade Ayoub to visit his apartment and accept the dinner invitation.
Sissoko tantalized him with a promise of showing him something extraordinary and unique from his culture, a Marvel he had never seen before assuring Ayoub he wouldn't regret it. Ayoub curiosity was piqued, especially in the 1990s when Tales of magic and Jin were more mystical than today and people were more fascinated by and believed in them.
Eventually Ayoub agreed to the invitation in the evening Ayoub arrived at Sissoko apartment, Sissoko welcomed him and after some initial conversation in Hospitality, Sissoko Led Ayoub to a dark smoke-filled room resembling Something From Another World filled with various objects, there Sissoko revealed that he was a sorcerer capable of using Jin to double any amount of money, Meaning if Ayoub brought any amount Sissoko claimed he could return twice the sum Ayoub listening intently and observing the room, seemed to be drawn in by this strange and Curious world.
To make a test Ayoub called the relative to bring 100,000 dirham or approximately $25,000 when the money arrived, The bank manager handed it to Sissoko and they both entered the dark room, which truly resembled a sorcerer's chamber in the center of the room, Sissoko sat down with the money in front of him while the bank manager stood and watched suddenly music began to play throughout the apartment Sissoko threw a substance into the sensors Causing the smoke and incense to increase significantly.
He started chanting in strange tones swaying his body from side to side then unexpectedly the electricity in the apartment went off plunging everything into darkness, Moments later a loud noise came from an adjacent room and a door burst open a man ran out screaming about a Jin that had appeared and attacked him the bank manager was bewildered and didn't know what to do, Sissoko laughed and told him not To worry, explaining that such occurrences were normal but the Jin might be uncomfortable with his presence as a stranger. He advised Ayoub to leave the apartment for a while until the money doubling process was complete the manager now scared and confused by what he witnessed, He obeyed and waited outside hearing sounds of music movement inside the apartment and even thunder lightning and smoke seeping from under the door after a while.
The commotion inside the Apartment subsided, the noises ceased and the door opened, Sissoko standing at the door invited the bank manager back in, The manager entered to find the apartment filled with smoke but the first thing he noticed was the money on the table, Sissoko pointed to the cash and told the manager here is your money doubled you gave me 100,000 and now it's 200,000 the manager approached the table incredulously handling the money, it indeed seemed like The amount had doubled 200,000 precisely twice what he had given Sissoko.
At this moment the bank manager Muhammad Ayoub was utterly convinced by the Act, sissoko's performance possibly with the help of a complex’s had him firmly believing in the sorcery and not harboring any doubts, it's worth noting that this money doubling trick was a common scam in the 1990s particularly executed by individuals of African nationalities.
Ayoub Felt into Sissoko Trap
Ayoub fell into the Trap genuinely believing, That Sissoko was a sorcerer who could double the money this belief led him to start transferring substantial sums to sissoko regularly, he opened a special account in the bank for sissoko and continued to transfer money into it, here the story takes an even more illogical turn. despite transferring Millions from the bank's funds to Sisssoko, The money never came back doubled. Ayoub just kept making one transfer after another, all from the banks money.
In the period between 1995 and 1998, the bank manager executed a staggering 183 transfer operations to sissoko's accounts. we're not just talking about his accounts in Dubai but also those in various countries around the world including the United States, Switzerland and France. The total of these transfers reached an astonishing $242 million.
One of the fundamental questions is why the bank manager continued making these transfers, Millions upon Millions. even though Sissoko never doubled any amount as promised but simply kept receiving the millions without any apparent reason.
There's no clear explanation for this behaviour only conjectures, Some speculate that Sissoko might indeed have been a sorcerer not just a con artist and used magic to Cloud the bank manager's judgment compelling him to continue the transfers. Another theory suggests fear played a role perhaps the bank manager truly Believed sissoko was a sorcerer and feared harm to himself or his family if he disobeyed. A third possibility is that Sissoko might have had some leverage or threat over the manager, when the bank manager first transferred a significant sum likely in the millions, Sissoko might have refused to return the doubled amount and instead threatened to expose the manager if the transfers weren't continued.
The second pressing question is how such massive amounts were Withdrawn from the bank over 3 years without anyone noticing or raising an alarm. Even if the bank manager was the highest Authority in the bank there must have been Accountants, Routine Audits and Inventory Processes.
How could such a huge sum all popping $242 million go unnoticed for 3 years?
This aspect is perhaps, the most baffling part of the story it's possible that banking operations at the time were different or the accounting systems Weren't as advanced as we see today, we are talking about an incident that occurred around 30 years ago. but this explanation seems weak because regardless of the systems in place, The amount was extraordinarily large.
Sissoko Luxury Life
Here Begins the second chapter of the story focusing on the luxurious life, Sissoko enjoyed using the bank's money as mentioned earlier the story started in 1995, after deceiving the bank manager and securing Millions.
Sissoko decided to Leave Dubai and return to his home country Molly. During this time, the bank manager continued transferring Millions to sissoko's account, Sissoko spent several months in his home Village of debad in Mali 🇲🇱. which like many villages in the region was impoverished, he was showering the villagers with gifts and money and initiating various projects. This generosity transformed The Village's economy and the villagers started seeing him as a father figure and saviour, Affectionate ly calling him basur. He became a beloved and revered figure in the community.
After several months in the village Sissoko decided to move to the United States, specifically New York with the bank transfers still ongoing. in the early months of 1996 Sissoko arrived in New York and opened an account with CITI Bank, one of the largest American banks of the time.
He visited the main branch in New York and somehow convinced one of the female employees to marry him, likely Using his wealth as a lure, despite knowing that Sissoko already had multiple wives in Africa, Europe and other parts of America, She agreed this marriage to the CITI Bank employee was primarily aimed at facilitating his banking transactions, as he planned to transfer all of his funds from Dubai to the United States indeed, Sissoko successfully transferred over $100 million from his account in Dubai to his account in the United States at Citi Bank,
His new wife an employee at Citi Bank likely facilitated these transactions, while Sissoko might not have needed her assistance her involvement certainly smoothed the process, In return He gifted her half a million dollars and continued to spend generously on her. To substantiate the transfer of this enormous sum from Dubai to Citi Bank in America.
(Image 11:54 )
This page documents the case filed by Dubai Islamic Bank in 1999 against Citybank in the United States. It's a documented legal case that took place in New York courts between the two Banks, The case details that from 1995 to 1998 with the assistance of three Citi Bank employees whose names are listed in the court documents.
Img 12:20
One of them being Sissoko wife according to the case they helped a man named fanka babani Sissoko in a money laundering operation. The court records and documents mention that the amount involved was $151 Million, let's get back to our story.
Feeling secure once the money reached his American account, Sissoko started living a lavish lifestyle in the United States. He began spending extravagantly, purchasing whatever he desired. He even bought planes and established an airline named after his village, Deia Airlines. He bought a private small plane and two Boeing 727s, each with a capacity of 180 passengers. He intended to create a full-fledged airline, but he opted for used and older planes, as new ones were prohibitively expensive even for him. However, these ambitious plans didn't fully materialize. The planes mostly remained grounded at the airport, and the airline he dreamt of never truly took off.
This was characteristic of Sissoko; he would enthusiastically invest millions into new ideas only to lose interest later. Sissoko, amidst his grand project ideas and extravagant spending, did not forget his people; he continued to support the inhabitants of his village, Deia, and his popularity grew, even extending to neighbouring areas.
Whenever he landed his plane, people would gather to welcome him with flowers and embraces, and he generously shared his wealth with them. Sissoko lived like royalty in every aspect, including popularity and public aeration.
However, things took a turn for the worse in July 1996. At that time, Sissoko attempted to purchase two helicopters that belonged to the US military. These were old, decommissioned military helicopters dating back to the Vietnam War era. Sissoko had set his sights on them and submitted a purchase request to the US government, claiming that he wanted to convert these helicopters into air ambulances to transport the injured.
He planned to use them in his village, where he had already built hospitals and clinics as an additional support tool for these Medical facilities However, the US government stalled the request due to suspicions that Sissoko might use the helicopters for other purposes, such as drug trafficking or arming them for use in civil conflicts in Mali, given their military origin. As a result, Sissoko's Associates attempted to expedite the process through illegal means. Sissoko followers tried to bribe a US official with $30,000, but Sissoko didn't directly order This bribe was more of an initiative from his supporters. Unfortunately for them, the official they attempted to bribe was honourable and reported the bribery attempt to the authorities, leading to their arrest. Investigations revealed their connection to Sissoko, making him a wanted man in the bribery case.
However, Sissoko was not in the US at the time, prompting an international national warrant for his arrest through INTERPOL. Sissoko was eventually arrested in Geneva. He was detained in one of the prisons there, awaiting extradition to the US. He immediately hired American lawyers to defend him, with Thomas Spencer as his lead attorney. Sissoko requested Spencer meet him in the Swiss prison to discuss the case and subsequent legal procedures. Spencer, recounting his visit to Geneva, mentioned an unusual interaction with the prison director before Mee met Sissoko. Spencer spoke with the director, who, oddly Requested to delay Sissoko's extradition for as long as possible, surprised Spencer inquired about the director's interest in the matter. The director revealed that Sissoko was arranging for exquisite meals to be flown in from Paris every night, creating a rather enjoyable situation for them. From the moment Thomas Spencer encountered the peculiar situation with the prison director in Geneva, he realised he was dealing with a unique and bizarre Character: Soon after Sissoko was extradited to the United States to face charges related to the bribery case, specifically in Miami, Florida, where the bribery incident occurred, Spencer's first move was to request a bail hearing, aiming to secure Sissoko's release until the trial.
However, the US government and the prosecutor strongly opposed any bail, fearing Sissoko might flee due to the ongoing investigations into his activities, which they suspected involved More than just the bribery case Despite these concerns, Sissoko rallied significant support for his bail hearing. Possessing a fortune like Sissoko, regardless of how it was acquired, enabled him to forge powerful connections with influential people. He leveraged these relationships to garner support at the bail hearing.
His lawyer presented numerous diplomats and high-profile individuals from various embassies and positions who testified on his behalf. The judge even noted in the court record that he had never seen so many diplomats in a courtroom before. These testimonies portrayed Sissoko as a respected and prominent figure, bolstering his lawyer's argument that Sissoko was a man of stature in the community and unlikely to flee; furthermore, his legal team assured the court that Sissoko was prepared to pay substantial bail to guarantee his presence at the trial. The judge felt immense pressure, especially from the The prosecutor in government, who was adamantly against granting Sissoko bail, decided to set an extraordinarily high bail amount, unprecedented in Florida's courts.
The bail was set at $20 million, an amount the judge believed to be prohibitive, assuming Sissoko wouldn't be able to pay it. However, after consulting with his defence team and understanding the situation, Sissoko surprised the court by agreeing to pay the bail. The bail was paid, and Sissoko was released.
The first thing he did after his release was to gift his lawyer and the defence team seven cars. The lawyer and his assistants were astounded. It was the first time a client had given them such extravagant gifts, especially considering that Sissoko's trial was still pending. All they had achieved so far was to get him released on bail until his trial date.
Sissoko was required to remain in Miami until this trial, but that wasn't a problem for him during this period. Embarked on an unrestrained spending spree, his in Associates described how he would enter a jewellery store and make purchases worth half a million dollars in a single visit to a car dealership. Employees also reported that he was buying two to four cars every week. moreover, he married several women, possibly more than 10. just in Miami, he rented over 20 apartments each for a different wife; and in Dubai,
My Islamic Banks manager continued to transfer money to him. Sissoko had credit cards from the bank with no spending limits, and any debts accumulated on these cards were cancelled by the bank manager, Ayoub, as if they never existed. The question of why the bank manager continued to do this remains a mystery. Was he truly under a spell, threatened, or scared? It's an intriguing puzzle. While in Miami awaiting his trial, Sissoko didn't forget the importance of philanthropy.
To improve his public image and gain people's sympathy and support, which he hoped would help him in court, he would go to the streets of Miami, visiting impoverished areas to donate to the poor and homeless, providing them with food and clothing. The media documented these acts of kindness to boost his reputation. On one occasion, Sissoko helped a school music band needing funds travel to New York to participate in the grand Thanksgiving Day Parade. He donated $300,000 to the band, much more than they required for the trip. In gratitude, the band performed a special musical piece for him to express their appreciation.
Sissoko was working on improving his image in Miami society, believing it would ease his upcoming trial in March 1997. The trial for the bribery case related to the purchase of helicopter aircraft began, and his lawyers advised him to deny the charges, especially since recorded conversations showed Sissoko instructing his men to expedite the helicopter's acquisition without breaking the law.
Contrary to his lawyer's advice, Sissoko confessed to the crime in court, taking full responsibility for the bribery case. His lawyers were perplexed by his decision, and his main lawyer, Thomas Spencer, was even angry when Spencer tried to understand Sissoko's rationale. He refused to explain that Spencer felt something was a miss. Years later, it was discovered that Sissoko might have confessed to halting further us.
After investigations into his financial dealings, fearing more serious problems than the bribery case, Sissoko's sentence wasn't severe; he received only a 43-day jail term and a fine of $250,000. The bribery case wasn't considered major; it was just $30,000, and it involved two out-of-service helicopters, so it wasn't seen as a highly sensitive matter.
Sissoko was sent to a federal prison in Florida, a regular facility that is not particularly high. Security After serving about half of his sentence, the government offered him a deal to complete the rest under house arrest in exchange for a significant donation to a homeless shelter. Sissoko agreed and donated $1 million to the shelter; consequently, he was released from prison to serve the remainder of his sentence under arrest at one of his houses.
Once Sissoko completed his sentence, he immediately left the United States and returned to Mali. I received a grand welcome at the airport as usual in 1998. Bank transfers from the Dubai Islamic Bank's director to Sissoko continued. Sissoko didn't save the money; instead, he found ways to spend it either on failed projects like Deia Airlines or by distributing it to his followers and those around him. He enjoyed playing the role of a modern-day Robin Hood. Even his lawyer noted that while in Miami awaiting his trial, Cissoko spent about a million dollars monthly in gifts to people around him. This expenditure was bound to increase in Molly, where these people were his kin, and it's much easier to be generous with someone else's money. At the same time, he constantly requested more transfers from the bank's director, who continued to comply, though it remains unclear why.
However, such an unusual situation was bound to come to light eventually in March 1998, when some of the bank's accountants started noticing discrepancies and began Asking questions, the bank director felt the pressure, especially since he had been unable to contact Sissoko for some time. According to the story, the director decided to confess to a close colleague and struggled with how to approach the subject. Unsure how to explain that he had transferred such massive amounts to an African man from another country because he believed him to be a sorcerer or because he himself was under a spell, it was an unbelievable scenario. Embarrassed, the director couldn't bring himself to verbalise the total amount transferred to the so-called African sorcerer; instead, he wrote it down: 890 million durans, equivalent to $242 million. His colleague was understandably shocked, realising this could mean the end of the bank.
Once the news started to spread, panic ensued among the bank's clients, fearing for their deposits. This could have led to a massive bank run, exacerbating the bank's financial crisis. The Emir government swiftly intervened following the discovery of the bank's financial troubles. The Dubai newspaper Alban published an article assuring the public that the situation was under control and that the Emirate government and the Central Bank guaranteed the safety of all deposits at Dubai Islamic Bank, which is crucial to preventing panic and mass withdrawals. The article also mentioned that an investigation was under way and that Dubai Islamic Bank's director, Muhamed Ayoub, along with two of his associates, had been detained for embezzling funds ranging from $200 to $500 million. Duram, most of the loss was borne by the bank's owners, as it was a private institution on the brink of collapse.
Until the government's intervention in exchange for this rescue, a significant share of the bank became government-owned. Associates are sparse, but according to the article, 17 people were sentenced to 3 years in prison. These defendants were of various nationalities, mostly bank employees, which somewhat explains how such large sums could be embezzled. Whether these employees benefited from their complicity or not remains unknown. The article confirmed the total embezzled amount attributed to the bank's director, Muhammad Ayoub, was over $890 million, and as for Sissoko, he was also among the 17 He was sentenced to receiving a verdict in absentia as he remained in Mali. All defendants were handed only three-year sentences In 1999.
Dubai Islamic Bank filed a lawsuit against Citibank in the US, accusing it of accepting large transactions without proper procedures. The bank demanded compensation of $151 million, but it appears that Citybank ended up paying no damages.
Lawyers appointed by Dubai Islamic Bank. In the US, they investigated the transfers to determine where the money went. They concluded that Muhammad Ayoub, the director of Dubai Islamic Bank, and his associates did not benefit financially from any of the transferred funds, which all went to Sissoko. This baffling situation brought us back to the question:
why did the bank director authorise all these transfers?
As for Sissoko Interpol, the international police organisation that issued an arrest warrant in his name, meaning he would likely be arrested if he travelled anywhere, he remained in Mali, which doesn't have extradition treaties with other countries, and to further protect himself Sissoko became a diplomat. He ran for parliament in 2002, won the elections due to his popularity, and became a member of the Malaysian Parliament, thereby acquiring diplomatic immunity. He believed this would protect him even if he travelled abroad.
Years later, Sissoko's fortune dwindled due to his excessive spending, leading to a significant decrease in his popularity. He lost the 2014 elections, his parliamentary seat, and his diplomatic immunity as well. Sissoko then returned to his small, remote village of Deia and lived there for the rest of his life. In 2018,
A BBC reporter managed to reach Dabi, find Sissoko's house, and convince him to participate in an interview—the only one he ever gave. Unfortunately, Sissoko's interview wasn't very enlightening and failed to answer the intriguing questions we had. Sissoko didn't speak much and didn't provide clear details about the whole affair. The key takeaway from the interview was Sissoko's admission of once possessing a vast fortune, claiming at one point to have had a capital of $400 million. However, he only embezzled $242 million from the bank.
Where did the additional millions come from?
Two possibilities Either Sissoko exaggerated his wealth or he was involved in other unknown scams. Many lean towards the latter, in doubt that the Dubai Islamic Bank scam was his only operation. When asked about the current whereabouts of the money, Sissoko simply said he had spent it all. When the interviewer questioned him about the Dubai Islamic Bank case, he evaded the topic, almost denying it and stating that his only interaction with the bank was For a car loan regarding the $242 million and the use of magic, he laughed it off, denying everything and stating that if he were a wizard, he wouldn't need to rob a bank. He suggested that the bank should explain how such a huge sum disappeared from their accounts. The interviewer was at his house, and among his people, he didn't press him further or ask about the significant transfer documented at Citibank in America or about the bank employee he married. His extravagant spending in Miami or the myriad other questions she could have asked but chose not to out of fear.
In the interview, Sissoko made a revealing statement about his character, saying one can never have enough money. Today you spend 10 million, tomorrow you want 20 million, and the next day 40 million. Money is insatiable. Sissoko remained free and unaccountable, living in his small village of Dabi, until he d!ed in 2021.
Conclusion
bringing us to the end of this extraordinary story. If you enjoyed it, don't forget to Share our Website with your friends and family, Follow our Social Media page , and check out other amazing Articles.
