EFCC Arraigns Company Director For Alleged N13.8bn Fraud In Rivers
THECONSCIENCE NG reports that Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned Precious Williams, director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, before Justice S.I. Mark of the Federal High Court in Port Harcourt, Rivers State.
Williams is facing a 14-count charge bordering on conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering amounting to N13.8 billion.
According to one of the charges, Williams, alongside her companies, Phenom 413 Events Ltd and Doxasterz Oil and Gas Ltd allegedly took possession of N10 billion between August 24, 2019, and February 15, 2020.
The funds, traced to Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Ltd, were said to be proceeds from a fraudulent investment scheme that deceived over 3,000 unsuspecting victims with promises of monthly returns of 10% to 15%.
Another count alleged that between December 17, 2019, and November 13, 2020, Williams and Pelegend Nigeria Ltd received over N1 billion through a Polaris Bank account, funds also linked to the same fraudulent scheme.
According to a statement on EFCC’s X handle, Williams reasonably ought to have known that the funds were from unlawful activities, constituting offences under the Money Laundering (Prohibition) Act, 2011 (as amended).
The statement reads in part: “The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission, EFCC has arraigned the director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, Precious Williams before Justice S. I . Mark of the Federal High Court, sitting in Port Harcourt, the Rivers State capital.
“Williams is being prosecuted on a 14-count charge, bordering on conspiracy, advance fee fraud, obtaining money under false pretence and money laundering to the tune of N13.8 billion.
” She pleaded ‘not guilty’ to all the charges, prompting the prosecution counsel E. K. Bakam to ask for a trial date and to apply for the remand of the defendant in a correctional center, while counsel to the defendant, Tochukwu Maduka, SAN, informed the court of the defendant’s bail application and prayed the court to grant her bail to enable her to prepare for her trial.
“The prosecution counsel, however, opposed the bail application on the ground that it was filed prematurely, having been filed before the amendment of the charge and also before arraignment of the defendant. He, therefore, posited that the defence should file a fresh bail application.
“In his ruling, the judge held that the defendant be remanded in the Port Harcourt Correctional Center and adjourned the matter till June 17, 2025 for the hearing of the bail application.
“The defendant was arrested when petitioners alleged that she received money from over 3000 victims by false pretence and laundering the money for personal use sometime in April 2021.”
