The Economic and Financial Crimes Commission (EFCC) on Thursday, August 29, 2019, arrested three promoters and staff of Millionaires African Leaders Club, a Ponzi scheme operating from No. 79, Nike Road, Abakpa Nike, Enugu, Enugu State. This arrest as reported by the anti-graft agency, was made possible through the intelligence received from one of the sister law enforcement agencies in the South East Zone.
According to the information released by EFCC on the arrest, the commission said the Coordinator of the organization, Nwonu Priscilla Chika, told her interrogators that the club operates a collaborative contribution Ponzi scheme, mostly transacted in cash on the two-class basis: first class and business class. Both attract registration fees and a monthly contribution of N3,000 and N25,000, and N2,000 and N12,500 respectively.
The statement added that Nwonu, who claimed that that the scheme’s corporate headquarters is at Nsukka with tone Princess Benny as chief executive, said the Enugu office commenced operations barely two months ago and that the scheme promises their “investors” 50% return on the sum invested.
The suspect could not confirm the registration of the ” firm” with the regulatory bodies such as the Securities and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN