MBA Trading and Capital investments CEO Allegedly Scammed 70,000 people of N171 Billion

MBA Trading and Capital investments CEO Allegedly Scammed 70,000 people of N171 Billion

News - Women's Perspective

Maxwell Odum, the highest donor in Christ Embassy church and CEO, MBA Trading and Capital investments, is alleged to have scammed over 70,000 investors of N171 billion.

Reports say he used the MBA Trading and Capital investments, an investment company that promised a 15% Return on Investment (ROI) for deposits starting from N350,000.

The Economic and Financial Crimes Commission (EFCC) has, in a reaction, warned Nigerians against investing their money in fraudulent investment schemes that promise huge returns.

Spokesperson for the commission, Mr Wilson Uwajaren said in a statement in Port Harcourt that the anti-graft agency was worried about repeated cases of thousands of Nigerians losing their life savings to scammers.

Guardian reports that MBA Forex which promised its investors 15% ROI monthly, crashed in November leaving over 70,000 investors stranded and heartbroken.

The Central Bank of Nigeria (CBN) confirmed that the company is owned by Maxwell Odum. It added that he collected over N170 billion from its investors before going under.

Reactions:

Adetutu Balogun, MBA@Tutsy22Maxwell Odum N171 billion fraud: He scammed over 70,000 investors using MBA Trading and Capital investments. The investment company which promised 15% ROI for deposits starting from N350k Odum was the highest donor in his church, Christ Embassy, last year, donating N1Bn.

Anthony Dibie@ighotasha· “We don’t always learn because of this notion of “it will not happen to me in Jesus name”


Ihedoro chidubem@DubemIhedoro
·Most ponzi start up as genuine businesses, its when harsh economy eats up owner capital, investors investment, the business manager decides to pack up and investors can no longer get their money it becomes a ponzi. Create a favourable business environment and watch business grow.


Money magnet@adeife_ademola
·Sometimes, it’s better to be broke so you don’t fall for foolish investments. I almost did this shit


Omolaoye Akintayo@Princeaktoy
· We’re together, i got to know about it late 2019 but was not having much and still doubting. Early 2020, i wanted to try with ₦100k but heard minimum capital now ₦350k That’s when I wise up, between, the website was always down


God’s Masterpiece@Lov_lives_here
·Replying to @Tutsy22Am not bothered about the donations he made to his church,my major pain is that I happen to be one of the people that fell for his scheme. It appeared so genuine so didn’t think too much before investing.

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