The Economic and Financial Crimes Commission, EFCC, in Enugu has arrested one Princess Benny Chidinma. Chidinma is believed to be operating and managing a Ponzi scheme business in the city.
Chidinma who is the Managing Director of a suspected Ponzi Scheme outlet “Millionaire African Leaders Club”, is alleged to be providing financial services and advisory without the required statutory permits and licenses.
Chidinma’s arrest came two days after her Enugu branch Coordinator, Nwonu Priscilla Chika was apprehended by operatives of the Commission following a raid on the premises of the club at No 79 Nike Road, Abakpa Nike, Enugu, Enugu State. Three promoters and newly recruited staffs of the organization were arrested in the operation.
Under interrogation, Chidinma admitted, that the Ponzi scheme was initially registered as a Non-Governmental Organization(NGO) and that she was running it in connivance with her accomplice, one Ken Onyekwere Okwuikpo who resides in PortHarcourt, Rivers State.
She further revealed that the scheme pays 70% (seventy percent) interest and not 50% as earlier stated by the Coordinator as annual return on investment, to contributors.
She also disclosed that their offices are spread across Nsukka, PortHarcourt, Aba, Abakaliki, and Enugu.
An EFCC source said an investigation is still ongoing, while efforts are being made to arrest other accomplices.