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EFCC Declares Maxwell Odum, MBA Investment CEO, Wanted Over $518.3bn fraud

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The Economic and Financial Crimes Commission [EFCC] said Maxwell Odum is wanted for $518.3 million in fraud.

Maxwell Chizi Odum, the CEO of MBA Forezlx, was involved in a case of obtaining money by false pretence, conspiracy, and money laundering. This information was revealed by the EFCC.

The EFCC announced that the Nigerian businessman, who is a native of Elekahiatown, Port Harcourt, tricked people to the tune of 213 billion Naira.

One of the investors of MBA Forex, John Paul Uzo, said he invested N4,500,000 (four million five hundred thousand naira) in MBA Forex as a means to have another source of income for his family.

Maxwell Odum

But a few months after he invested the money in June 2020, the scheme crashed in November 2021.

At the request of victims of MBA Forex, Uzo and a group of people have protested at government agencies like the EFCC, Department of State Security, and the Central Bank of Nigeria (CBN).

They protested to demand that the government agencies take action and help them recover the money they invested in MBA Forex.

The secretary said the court’s interference will give them small hope that they will get their money back, as many of them are suffering due to their money being held by the investment company.

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“It is a 50/50 chance because it will get through some process as the government has stepped in and charged him with a court.’

“So it is the court that will decide whether the money will go to the government or the investors, but we have hope that we, the investors, will benefit at the end of the day.” He added.

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