EFCC seeks Maxwell Odum in N213bn forex scam

Maxwell Odum, the Chief Executive Officer of MBA Capital and Trading Limited, a Lagos-based forex training and capital investment firm, has been proclaimed sought by the Economic and Financial Crimes Commission for suspected fraud of N213 billion.
In a warning issued on Wednesday, the anti-graft agency urged members of the public with information regarding Odum's whereabouts to contact any of the EFCC's offices countrywide or security agencies.

"The public is 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, getting money by false pretense, and money laundering to the tune of N213,000,000,000.00 (Two Hundred and Thirteen Billion Naira) only," the notice read.

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

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

Many naïve Nigerians have recently been victims of Ponzi scams cleverly disguised as investment businesses. Millions of naira belonging to desperate and greedy Nigerian investors have been seized by leading Ponzi Machiavellians who lived extravagant lifestyles off investors' resources, enticed by tantalizing and huge returns on investments.

Bamise Ajetumobi of Imagine Global Solution Limited is currently alleged to be on the run like Odum.

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 are among the prominent Ponzi gurus charged and arrested for defrauding investors of billions of naira.