REVEALED: Real Faces Behind N181 Billion Fraud, Swindling Of Investors By MBA Capital And Trading Limited

In latest years, Nigerians have been victims of assorted Ponzi schemes, dropping billions of naira to such schemes.

One of the most recent ones includes MBA Capital and Trading Limited, a foreign exchange coaching and capital funding firm.

REVEALED: Real Faces Behind N181 Billion Fraud, Swindling Of Investors By MBA Capital And Trading Limited 2

SaharaReporters had in February uncovered how the corporate obtained cash from Nigerians utilizing the guise of funding and disappeared.

Some of the victims claimed they have been defrauded of billions of naira, including that the corporate closed on December 22, 2020, for the festive season but it surely has did not resume since then. 

An investor, Favour Senibo, had advised SaharaReporters that she invested her cash with MBA after seeing a publication stating that the corporate was established with a imaginative and prescient to influence the overall populace with the data of buying and selling foreign exchange and creating platforms that can result in sustainable monetary freedom.

She additionally stated the CEO, Maxwell Odum, claimed the corporate had been licensed by vital regulatory businesses in Nigeria and that the corporate, in contrast to others, was not a Ponzi scheme.

Odum had promised a 15 p.c return on capital funding (ROI) for traders with a capital Investment of N360, 000 to N5 million. 

According to her, a couple of months later, it was introduced that MBA had been acquired by a sure firm, World Citizen Equity Partners (WCEP), which might inject extra funding to develop the enterprise. 

Another investor, Alalibo Amachree, stated MBA had modified its identify to Men In Business Thrive And Credit Cooperative Limited (MIBAC). He stated he heard concerning the funding firm from an internet advert, and invested N3.5 million.

Amachree stated he had no job in the meanwhile and was already suicidal due to the challenges confronting him.

Also, David Spencer, one other investor, stated he was launched to MBA by a employees member who claimed that the funding scheme was government-approved. 

He stated he regretted his choice and was shocked by the developments.

Though MBA was registered with the Corporate Affairs Commission and the Special Control Unit Against Money Laundering by one Maxwell Odum because the CEO, SaharaReporters gathered that the corporate is owned by one Kevin Ndago, an ‘international fraudster’ who entered Nigeria as a Cameroonian alongside along with his girlfriend, Bitaniya Zaeb, an Ethiopian.

They have been stated to have used Odun to defraud Nigerians of over N181 billion.

“Kevin Ndago who bears Kevin Kiliminati, his true identity was revealed recently in his Venuatu passport procured to hide his true identity as an international fraudster and ex-convict in Cameroon. He lured desperate Nigerians seeking second citizenship to be able to live abroad with promises of investment opportunities across the globe, investment partnership with billionaires across the borders of Nigeria,” a senior officer at Wuse Zone 3 police station advised SaharaReporters.

We acquired to know all this data throughout an investigation the place a Nigerian activist and authorized practitioner was swindled of about $140,000 by the corporate to get French passports for his kids residing within the United Kingdom.

“Kevin’s main accomplice and girlfriend, Bitaniya Zaeb poses as a staff member of an international company called World Citizens Equity and Partners and deployed to Nigeria to oversee the affairs of the office. Their modus operandi engages citizens of other African nations and Nigerians who spy on Nigerians with big fat bank accounts after which Kevin and Bitaniya arrange to visit them. During the visit, the duo will convince the clients to part with their money.

“It was during the course of such racketeering that Kevin Ndago and Bitaniya Zaeb met with Maxwell Odum and decided to incorporate their scheme into MBA Capitals and quickly purchased over 90% shares of MBA Capitals using their former company, WCEP. 

“While Kevin Ndago and Maxwell Odum are still at large, Bitaniya Zaeb is still in Nigeria hobnobbing with Nigerian politicians to steal billions of naira being coordinated by a newly incorporated firm, called True-North Citizens Ltd. The True North Citizens Ltd is now being used as a front by Kevin Ndago who called the shot from the UK with his Nigerian accomplices and highly placed persons in the Ethiopian Embassy in Nigeria. 

“Both individuals are currently fighting tooth and nail using the office of the Federal Capital Territory Commissioner of Police and some members of the National Assembly to thwart ongoing police investigations into their activities that were reported to our office and other police stations across the country.”

Meanwhile, some traders have petitioned Interpol and the Economic and Financial Crimes Commission (EFCC) concerning the actions of the corporate and its house owners.

Another police supply advised SaharaReporters many Nigerian politicians with corruption instances have procured second citizenship by the assistance of Bitaniya and Kevin. 

“Many of their victims have since died whilst others are still believing in us (police) and EFCC to track Maxwell and Kevin in order to recover their funds. 

“Whilst poor citizens are languishing in poverty and pains, Bitaniya and Kevin are living in affluence after using the proceeds of the crime to purchase properties in the UK, USA, Ethiopia and Dubai, so sad,” he stated.

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REVEALED: Real Faces Behind N181 Billion Fraud, Swindling Of Investors By MBA Capital And Trading Limited

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