Nigeria: Court remands woman over N13.8 billion ponzi scheme

By Zuleihat Owuiye, Mamos Nigeria

A Federal High Court sitting in Port Harcourt has remanded Precious Williams, a director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, over her alleged involvement in a N13.8 billion Ponzi scheme. Williams was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 14-count charge bordering on conspiracy, obtaining by false pretence, and money laundering.

According to the charges, Williams allegedly received billions of naira traced to Maxwell Chizi Odum and MBA Trading and Capital Investment.