A KENT man has become a victim of a massive Nigerian-based financial fraud in which people are persuaded to hand over large sums of money.

Police are not identifying the man who they say has been left extremely embarrassed and traumatised by the loss of more than £20,000.

But they are warning people to be extremely wary of the scam, known as the '419', in which victims are told they can make big profits through business deals.

A Kent police spokesman explained: "The fraud involves a fax, e-mail or letter being sent to the potential victim, often promising tens of millions of US dollars. But they are required to pay an advance fee, transfer tax of 'performance bond'.

If the fee is paid, 'complications' often require more payments, until the victim quits or runs out of money."

Peter Biddulph, of the Kent Police Fraud Squad, said: "The best evidence suggests there is a one per cent success rate with the average hit being £30,000. We know of two cases in Kent where people have lost large amounts of money.

"Following an approach, a man from east Kent sent a cheque for £7,500 to Nigeria. He was bombarded with phone calls asking for more money. He ultimately agreed to meet the two men in London and gave them £12,500 cash in a carrier bag and another cheque for £7,500. He received no money but was able to cancel the last cheque. The scale of the fraud is enormous.

"Investigators recently discovered 11,000 suspected 419 letters at one London postal sorting office alone. But because they had legitimate stamps they could not be destroyed and had to be delivered."

He added: "My advice is very simple; do not reply because there is never any money to be made. If you receive a 419 letter by e-mail, please forward it to me at pwb@kentcc.demon.co.uk or if by post send it to me c/o The Fraud Squad, Kent Police Headquarters, Sutton Road, Maidstone, ME15 9BZ."