Doctor Nogood was the head of FOWL, an evil mastermind devoted to taking over the world. His grandest scheme involved using an "ink vanisher" formula to erase the ink from all the world's money, turning it into useless paper. Nogood's personal stockpile of gold would have then made him the richest man in the world. He ended up falling into a large vat of his own ink vanisher and is presumed to have died.
In name, Dr. Nogood is a spoof of the James Bond villain Dr. Julius No, while in function he was obviously inspired by Ernst Stavro Blofeld. His scheme with wrecking the economy, meanwhile, is reminiscent of Auric Goldfinger.