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, shedding 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.

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 informed SaharaReporters that she invested her cash with MBA after seeing a publication stating that the corporate was established with a imaginative and prescient to impression the final populace with the data of buying and selling foreign exchange and creating platforms that may result in sustainable monetary freedom.

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

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

According to her, just a few 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, mentioned MBA had modified its title to Men In Business Thrive And Credit Cooperative Limited (MIBAC). He mentioned he heard in regards to the funding firm from an internet advert, and invested N3.5 million.

Amachree mentioned he had no job in the mean time and was already suicidal due to the challenges confronting him.

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

He mentioned he regretted his determination 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 together with his girlfriend, Bitaniya Zaeb, an Ethiopian.

They have been mentioned 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 informed SaharaReporters.

We bought to know all this info 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 dwelling within the United Kingdom.

“Kevin’s fundamental confederate and girlfriend, Bitaniya Zaeb poses as a employees member of a world firm referred to as World Citizens Equity and Partners and deployed to Nigeria to supervise the affairs of the workplace. Their modus operandi engages residents of different African nations and Nigerians who spy on Nigerians with huge fats financial institution accounts after which Kevin and Bitaniya prepare to go to them. During the go to, the duo will persuade the shoppers to half with their cash.

“It was through the course of such racketeering that Kevin Ndago and Bitaniya Zaeb met with Maxwell Odum and determined to include their scheme into MBA Capitals and rapidly bought over 90% shares of MBA Capitals utilizing their former firm, WCEP.

“While Kevin Ndago and Maxwell Odum are nonetheless at massive, Bitaniya Zaeb remains to be in Nigeria hobnobbing with Nigerian politicians to steal billions of naira being coordinated by a newly included agency, referred to as True-North Citizens Ltd. The True North Citizens Ltd is now getting used as a entrance by Kevin Ndago who referred to as the shot from the UK together with his Nigerian accomplices and extremely positioned individuals within 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 buyers have petitioned Interpol and the Economic and Financial Crimes Commission (EFCC) in regards to the actions of the corporate and its homeowners.

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

“Many of their victims have since died while others are nonetheless believing in us (police) and EFCC to trace Maxwell and Kevin in an effort to get better 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 mentioned.