Nigeria News
Maxwell Odum: Investors groan as ponzi scheme operator disappears with N213bn
The disappearance of MBA forex firm boss Maxwell Odum has left thousands of investors frustrated.
The operator of a Ponzi scheme, Maxwell Odum, disappeared into thin air after defrauding tens of thousands of Nigerians out of hundreds of millions. The police have confirmed investigation into the issue and its report is still ongoing.
Maxwell, who ran a firm in Port Harcourt named MBA Trading and Capital Investments Limited, took large sums of money from customers while promising wonderful profits.
The culprit, who was born in Rivers State, is now missing. He stopped posting on Facebook on November 19, 2020, when he ran another disclaimer for another fraudster named ‘Maxwell Odums,’ who is based in Lagos.
The EFCC designated Maxwell wanted in December 2021 when the actual Maxwell vanished, leaving his clients impoverished.The agency charges him with money laundering, conspiracy, and gaining money through falsehood.
Odum is a native of Ikwerre in Rivers State, according to the EFCC.
“His last known address is 7 Odum Street, Elekahia, Port Harcourt”, said EFCC head of media and publicity, Wilson Uwujaren.
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