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EFCC Declares MBA Capital and Trading Limited CEO Wanted Over N213bn Fraud

The Economic and Financial Crimes Commission (EFCC) has on Wednesday placed on its wanted list, Mr Maxwell Chizi Odum, the Chief Executive Officer (CEO) of MBA Capital and Trading Limited. over an alleged fraud of N213bn.

MBA Capital and Trading Limited is a Lagos-based forex training and capital investment company

The EFCC in a notice, signed by the agency’s spokesman, Wilson Uwujaren, said any member of the public with details of the whereabouts of Odum to report to any of its offices nationwide or to security agencies.

Uwujaren said: “The general public is hereby notified that MAXWELL CHIZI ODUM, A.K.A. MBA TRADING AND CAPITAL INVESTMENT LIMITED, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission (EFCC) in an alleged case of Conspiracy, Obtaining Money by False Pretence and Money Laundering to the tune of N213,000,000,000.00 (Two Hundred and Thirteen Billion Naira) only.

“Odum is a native of Ikwerre in Obio-Akpor Local Government Area, Rivers State. “His last known address is at 7, Odum Street, Elekahia, Port Harcourt, Rivers State.

“Anybody with useful information as to his whereabouts should please contact the Commission in its Benin, Kaduna, Ibadan, Sokoto, Gombe, Maiduguri, Makurdi, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt and Abuja offices…or the nearest Police Station and other security agencies.”

Odum had disappeared after allegedly fleecing thousands of investors of their hard-earned money.

The company also reportedly closed on December 22, 2020, for the festive season but had failed to resume since then.

Investors who were tired of the situation had petitioned the Lagos State Police Command in April 2021, accusing Odum of mismanaging their funds.

Many unsuspecting Nigerians have, in recent times, fallen victims to Ponzi schemes deftly branded as investment schemes. Lured by mouthwatering and high yield investments, billions of naira belonging to desperate and greedy Nigerian investors, have been usurped by foremost Ponzi Machiavellians who lived exotic lifestyles off investors’ resources.

Currently said to be on the run like Odum is Bamise Ajetumobi of Imagine Global Solution Limited.

Other leading Ponzi gurus accused and arrested for swindling investors of billions of naira include Akor Philip Paul of Benignant Forte Nigeria Limited, Dominic Joshua of Brisk Capital Limited, Harrison Osemwengie of HO Corn Farm, Adewale Jayeoba of Wales Kingdom Capital Limited, amongst others, The Punch reported.

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