The {Economic} and {Financial} Crimes Fee (EFCC), Port Harcourt Zonal Directorate, has arraigned Treasured Williams, a director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, over an alleged N13.8 billion Ponzi scheme fraud.
The arraignment occurred earlier than Justice S.I. Mark of the Federal Excessive Court docket in Port Harcourt, Rivers State.
Williams is dealing with a 14-count cost bordering on conspiracy, acquiring cash underneath false pretence, advance charge fraud, and cash laundering.
In response to the EFCC, she allegedly obtained funds traced to Maxwell Chizi Odum, founding father of the MBA Buying and selling and Capital Funding Restricted, who remains to be at giant and laundered them by way of firm accounts.
Williams pleaded not responsible to all expenses. The EFCC counsel, E.Okay. Bakam, requested a trial date and moved for her remand in a correctional facility.
Nonetheless, her lawyer, Tochukwu Maduka, SAN, urged the court docket to think about her bail software, insisting she wanted time to organize for trial. However the EFCC opposed the appliance, describing it as untimely and improperly filed, because it was submitted earlier than the amended expenses and formal arraignment.
Bakam opposed the bail plea, arguing that it was filed prematurely earlier than the amended cost and arraignment, and advised that the defence ought to file a recent software.
Justice Mark dominated that the defendant be remanded on the Port Harcourt Correctional Heart and adjourned the case to June 17, 2025, for the listening to of the bail software.
The EFCC declared Maxwell Chizi Odum, whom Williams allegedly obtained funds traced to, needed in December 2021 after hundreds of Nigerians accused his firm, MBA Buying and selling and Capital Funding Restricted, of defrauding them by way of an elaborate Ponzi scheme. The agency promised buyers unusually excessive returns of 15% curiosity month-to-month.
Williams is the newest affiliate of Odum to face prosecution, because the anti-graft company continues efforts to get well stolen funds and produce suspects to justice.
Williams was arrested following petitions from a number of victims who alleged that she obtained cash from over 3000 victims by false pretence and laundering the cash for private use someday in April 2021.
This arraignment provides to a protracted path of authorized motion towards associates of the agency.
