The South East Zonal office of the Economic and Financial Crimes Commission (EFCC) on Thursday arrested three promoters and staff of Millionaires African Leaders Club, a Ponzi scheme operating in Enugu State.
The arrest of the trio who operated at No. 79, Nike Road, Abakpa Nike, Enugu, followed an intelligence report from a sister law enforcement agency.
The Agency said the coordinator of the organization, Nwonu Priscilla Chika, told her interrogators that the club operates a collaborative contribution scheme, mostly transacted in cash in two classes, namely First Class and Business Class. Both attract registration fees and monthly contribution of N3,000 and N25,000, and N2,000 and N12,500 respectively.
It further revealed that Nwonu claimed that the scheme’s corporate headquarters is at Nsukka with one Princess Benny as Chief Executive, and that the Enugu office commenced operations barely two months ago, promising ‘investors’ 50% return on the sum invested.
It was learnt that the suspect could not confirm the registration of the ‘firm’ with regulatory bodies, such as the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).
