CEO Of MBA Capital and Trading Limited, Maxwell Odum Declared Wanted By EFCC For Money Laundering

The Economic and Financial Crimes Commission (EFCC) has declared Maxwell Odum, the Chief Executive Officer of MBA Capital and Trading Limited, a Lagos-based forex training and capital investment company, wanted for alleged N213 billion fraud.

The anti-graft agency requested members of the public with knowledge about Odum’s whereabouts to call any of the EFCC’s offices nationwide or security services, according to a notice released on Wednesday.

The notice stated, “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 pretense, 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 Rivers State’s Obio-Akpor Local Government Area.

“His most recent known address is 7 Odum Street, Elekahia, Port Harcourt, Rivers State.”

“Anyone with valuable information regarding his whereabouts should call the Commission’s offices in Benin, Kaduna, Ibadan, Sokoto, Gombe, Maiduguri, Makurdi, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, and Abuja…or the local Police Station and other security authorities,” the commission said.

Odum had vanished after reportedly swindling thousands of investors out of their money.

The company also apparently shut down on December 22, 2020, for the holiday season, but has yet to reopen.

Investors who were fed up filed a complaint with the Lagos State Police Command in April 2021, accusing Odum of mismanaging their assets.

Many gullible Nigerians have recently fallen prey to Ponzi schemes masquerading as investment firms. Leading Ponzi Machiavellians grabbed millions of naira belonging to desperate and greedy Nigerian investors, who lived opulent lifestyles off investors’ resources, tempted by enticing and large returns on investments.

Imagine Global Solution Limited’s Bamise Ajetumobi is currently on the run, just like Odum.

Among the major Ponzi gurus indicted and arrested for scamming investors of billions of naira are Akor Philip Paul of Benignant Forte Nigeria Limited, Dominic Joshua of Brisk Capital Limited, Harrison Osemwengie of HO Corn Farm, and Adewale Jayeoba of Wales Kingdom Capital Limited.

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