Precious Williams, the director of a Ponzi scheme, is charged by the EFCC with N13.8 billion fraud.
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Precious Williams, a director of Glossolalia Nigeria Ltd. and Pelegend Nigeria Ltd., has been charged by the Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) with a N13.8 billion Ponzi scheme fraud.
Justice S.I. Mark of the Federal High Court in Port Harcourt, Rivers State, presided over the arraignment.
Williams is charged with 14 counts, including money laundering, advance fee fraud, conspiracy, and obtaining money under false pretense.
The EFCC claims that she laundered money through business accounts after receiving it from Maxwell Chizi Odum, the founder of the MBA Trading and Capital Investment Limited, who is still at large.
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Fees
“That sometime between the 24th day of August, 2019 and the 15th day of February, 2020, at Port Harcourt, within the jurisdiction of this Honourable Court, you, Precious Williams of Glossolalia Nigeria Limited; Pelegend Nigeria Limited, Phenom 413 Events Limited (company representative at large),
Doxasterz Oil and Gas Limited, directly took possession of the sum of Ten Billion Naira (N10,000,000,000.00)” is one of the charges.
only from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) through your Sterling Bank PLC Account No. 0064260799, when you reasonably ought to have known that the said funds formed part of the proceeds of the unlawful activities, of Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) of obtaining money under false pretence from one Christian
I. Agadaga and over three thousand (3000) other unsuspecting members of the Nigerian public, under the pretext that it was for investment purposes that will yield for them 10% to 15% interest per month, and you, thereby committed an offence contrary to Section 15 (2)(b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”
Another reads: “That you, Precious Williams, and Pelegend Nigeria Limited, sometime between the 17th day of December, 2019 and 13th November, 2020, at Port Harcourt, within the jurisdiction of this Honourable Court, directlytook possession of the sum of One Billion, Five Million, Nine Hundred and Four Thousand Naira (N1,005,904,000.00) only from MBA Trading and Capital Investment Limited (at large) through Pelegend Nigeria Limited’s Polaris Bank PLC Account No. 0139723989, when you reasonably ought to have known that the said funds formed part of the proceeds of the unlawful activities of Maxwell Chizi Odum (still at large), and MBA Trading and Capital Investment Limited (at large) of obtaining money under false pretence from one Christian I. Agadaga and over three thousand (3000) other unsuspecting members of the Nigerian public, under the pretext that it was for investment purposes that will yield for them 10% to 15% interest per month, and you, therebycommitted an offence contrary to Section 15 (2)(b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”
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