A Slidell man posing as a Nigerian Prince scammed people out of thousands of dollars according to police.

Michael Neu, 67, was arrested by Slidell Police financial crimes investigators for 269 counts of wire fraud and money laundering.

Police say Neu was the “middle man” to an e-mail scam where someone posing as a Nigerian prince claims the victim is the beneficiary in a will and set to inherit millions of dollars. They then ask for your personal financial information to prove that you are the beneficiary and to speed up the transfer of your alleged inheritance.

“Most people laugh at the thought of falling for such a fraud, but law enforcement officials report annual losses of millions of dollars to these schemes,” a spokesperson for the Slidell Police Department said.

Police suspect Neu of participating in hundreds of these.

“If it sounds too good to be true, it probably is,” Slidell Police Chief Randy Fandal. “Never give out personal information over the phone, through e-mail, cash checks for other individuals, or wire large amounts of money to someone you don't know. 99.9 percent of the time, it's a scam.”

The investigation is ongoing.