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REVEALED: Real Faces Behind N181 Billion Fraud, Swindling Of Investors By MBA Capital And Trading Limited

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One of the latest ones involves MBA Capital and Trading Limited, a forex training and capital investment company.

In recent years, Nigerians have been victims of various Ponzi schemes, losing billions of naira to such schemes.

One of the latest ones involves MBA Capital and Trading Limited, a forex training and capital investment company.

The media had in February exposed how the company obtained money from Nigerians using the guise of investment and disappeared.

Some of the victims claimed they were defrauded of billions of naira, adding that the company closed on December 22, 2020, for the festive season but it has failed to resume since then.

An investor, Favour Senibo, had told the media that she invested her money with MBA after seeing a publication stating that the company was established with a vision to impact the general populace with the knowledge of trading forex and creating platforms that will bring about sustainable financial freedom.

She also said the CEO, Maxwell Odum, claimed the company had been certified by necessary regulatory agencies in Nigeria and that the company, unlike others, was not a Ponzi scheme.

Odum had promised a 15 percent return on capital investment (ROI) for investors with a capital Investment of N360, 000 to N5 million.

According to her, a few months later, it was announced that MBA had been acquired by a certain company, World Citizen Equity Partners (WCEP), which would inject more investment to grow the business.

Another investor, Alalibo Amachree, said MBA had changed its name to Men In Business Thrive And Credit Cooperative Limited (MIBAC). He said he heard about the investment company from an online advert, and invested N3.5 million.

Amachree said he had no job at the moment and was already suicidal because of the challenges confronting him.

Also, David Spencer, another investor, said he was introduced to MBA by a staff member who claimed that the investment scheme was government-approved.

He said he regretted his decision and was shocked by the developments.

Though MBA was registered with the Corporate Affairs Commission and the Special Control Unit Against Money Laundering by one Maxwell Odum as the CEO, the media gathered that the company is owned by one Kevin Ndago, an ‘international fraudster’ who entered Nigeria as a Cameroonian along with his girlfriend, Bitaniya Zaeb, an Ethiopian.

They were said to have used Odun to defraud Nigerians of over N181 billion.

“Kevin Ndago who bears Kevin Kiliminati, his true identity was revealed recently in his Venuatu passport procured to hide his true identity as an international fraudster and ex-convict in Cameroon. He lured desperate Nigerians seeking second citizenship to be able to live abroad with promises of investment opportunities across the globe, investment partnership with billionaires across the borders of Nigeria,” a senior officer at Wuse Zone 3 police station told the media.

We got to know all this information during an investigation where a Nigerian activist and legal practitioner was swindled of about $140,000 by the company to get French passports for his children living in the United Kingdom.

“Kevin’s main accomplice and girlfriend, Bitaniya Zaeb poses as a staff member of an international company called World Citizens Equity and Partners and deployed to Nigeria to oversee the affairs of the office. Their modus operandi engages citizens of other African nations and Nigerians who spy on Nigerians with big fat bank accounts after which Kevin and Bitaniya arrange to visit them. During the visit, the duo will convince the clients to part with their money.

“It was during the course of such racketeering that Kevin Ndago and Bitaniya Zaeb met with Maxwell Odum and decided to incorporate their scheme into MBA Capitals and quickly purchased over 90% shares of MBA Capitals using their former company, WCEP.

“While Kevin Ndago and Maxwell Odum are still at large, Bitaniya Zaeb is still in Nigeria hobnobbing with Nigerian politicians to steal billions of naira being coordinated by a newly incorporated firm, called True-North Citizens Ltd. The True North Citizens Ltd is now being used as a front by Kevin Ndago who called the shot from the UK with his Nigerian accomplices and highly placed persons in the Ethiopian Embassy in Nigeria.

“Both individuals are currently fighting tooth and nail using the office of the Federal Capital Territory Commissioner of Police and some members of the National Assembly to thwart ongoing police investigations into their activities that were reported to our office and other police stations across the country.”

Meanwhile, some investors have petitioned Interpol and the Economic and Financial Crimes Commission (EFCC) about the activities of the company and its owners.

Another police source told our correspondent many Nigerian politicians with corruption cases have procured second citizenship through the help of Bitaniya and Kevin.

“Many of their victims have since died whilst others are still believing in us (police) and EFCC to track Maxwell and Kevin in order to recover their funds.

“Whilst poor citizens are languishing in poverty and pains, Bitaniya and Kevin are living in affluence after using the proceeds of the crime to purchase properties in the UK, USA, Ethiopia and Dubai, so sad,” he said.

Culled from the Sahara Reporters

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Body of O.J. Simpson to be cremated this week; brain will not be studied for CTE

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April 15 (UPI) — The body of O.J. Simpson, who died last week at the age of 76, is to be cremated, a lawyer representing the ex-football superstar’s estate said, adding his brain will not be donated for research.

Malcolm LaVergne, Simpson’s longtime attorney and executor, told the New York Post that his client’s body is to be cremated Tuesday in Las Vegas.

He said Simpson’s family also gave a “hard no” to scientists seeking to examine the former running back’s brain for chronic traumatic encephalopathy, which is better known as CTE.

CTE is a rare and little understood brain disorder that is likely caused by repeated blows to the head. According to the Mayo Clinic, CTE results in the death of nerve cells in the brain and the only way to definitively diagnose it is with an autopsy of the organ after death.

Memory and thinking problems, confusion, personality changes and erratic behavior, including aggression, depression and suicidal ideation, are among CTE’s symptoms, the Alzheimer’s Association said.

The disease has been found in those who play contact sports, including football and hockey.

LaVergne confirmed to NBC News on Sunday that at least one person has called seeking Simpson’s brain.

“His entire body, including his brain, will be cremated,” he said.

Simpson died Wednesday following a battle with cancer.

Known by the nickname “The Juice,” Simpson was a NFL superstar during the 1970s, which made him a household name that propelled him into film and television during the next decade.

But his stardom would come crashing down in the mid-1990s when he was accused of killing his ex-wife Nicole Brown Simpson and her friend Ron Goldman.

His high-profile trial lasted months, but ended with his acquittal.

In 2008, he was found guilty on a dozen charges, including kidnapping and armed robbery, and was paroled in 2017 after serving nine years of his 33-year sentence.

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Houston’s Urban South Brewery Celebrates Fourth Anniversary

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Urban South Brewery Houston will host its upcoming Anniversary Party from Friday, April 5 through Sunday, April 7, in the HTX Taproom, starting at 11 AM, celebrating four years of crafting exceptional brews and fostering community culture. This milestone event will be an exciting day featuring live music, food, activities, and a vendor market.

Beer enthusiasts are also in for a treat with the release of four exclusive anniversary specialty beers. Highlights include “Press Start,” a crafted Czech Pale Lager brewed in collaboration with Parleaux Beer Lab. Additionally, beer fans can indulge in “Level Up,” an Old-Fashioned Cocktail Sour Ale infused with orange peel, Luxardo cherry syrup, and subtle bourbon barrel notes. The offerings continue with “High Score,” a robust Double IPA bursting with flavors of Mosaic, Citra, and Chinook hops, and “Game Over,” a decadent Neapolitan Ice Cream Stout layered with strawberry fruit, Tahitian vanilla bean, and milk chocolate.

To make the celebration even more memorable, fans can pre-order an Exclusive 8-Bit Beer Box featuring the four-anniversary specialty beers (Press Start, Level Up, High Score, Game Over), a 16oz can-shaped Silipint with discounted refills, and 2 tokens redeemable for draft beer.

The Anniversary Party is open to the public, welcoming families and furry friends. Urban South Brewery invites everyone to join in the festivities and toast to four years of brewing excellence.

For more information on Urban South’s Anniversary Celebration, follow the Houston taproom on Instagram and Facebook.

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$600 Million Showdown: Michael Jackson’s Estate Executors Refusing to Pay Pop Star’s Mom $500k Legal Bill

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Now She is Fighting to Block Music Catalog Sale

The war between Michael Jackson ’ s mother Katherine and the two executors running his estate has heated up. According to court documents, lawyers for the executors, John Branca and John McClain , asked the court to shut down Katherine’s recent demand for $500k.

As we first reported, Katherine filed a motion asking that she be reimbursed $561,548. She said she spent the amount on a team of lawyers to fight the executors over the sale of Michael’s music catalog .

The executors asked the court to approve the music catalog sale in 2022. Katherine quickly opposed the deal. The parties went back and forth in court for months until a hearing was held on the matter.

At the hearing, Katherine testified that Michael did not want the music catalog sold and that he considered it a lifeline. Michael’s children Paris and Blanket told the court they opposed the deal too. Blanket said he opposed on emotional grounds.

The executors fired back claiming Katherine has a pattern of objecting to lucrative deals. They argued the market was hot for the music catalog sale and they needed to take advantage of it.

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The estate said it had every right to make the deal. 

“The Estate was teetering on the verge of collapse, with more than $400 million in debt that encumbered Michael’s most significant assets and little or no liquidity or means to service that debt. Through creative thinking, hard work and business savvy—and, of course, Michael’s extraordinary creative legacy—the Executors transformed the MJJ Business into a profitable enterprise,” the executors said as they argued for the deal to be approved.

Despite the family’s plea, the judge approved the executors’ deal and allowed them to move forward with the sale.

Within weeks, Katherine had filed an appeal of the decision. She argued the executors did not have the authority to sell Michael’s assets.

Recently, the executors argued that Katherine’s appeal should be dismissed. They said they had every right to sell the catalog. No decision has been reached on the appeal.

On February 9, 2024, the estate announced they sold one half of Jackson’s music to Sony for $600 million — a deal that Katherine said should not have gone through.

As part of the appeal, Katherine won a couple of small victories against the estate. As a result, she asked the court to award her the $561k in legal fees.

Now, the executors asked the court to deny the motion for legal fees. In their motion, they argued, “The Petition does not indicate the source from which Mrs. Jackson’s counsel seeks to have the requested attorney’s fees and expenses paid. It is not clear whether she is seeking payment from the probate estate or from the Trust.”

Further, the executors argued, “To the extents Mrs. Jackson seeks payment from the probate estate, the Petition lacks merit because it relies on provisions of the Trust, claiming that payment of legal fees is required by provisions of the Trust authorizing the Trustees to make payments “in [their] absolute discretion, for [Mrs. Jackson’s] care, support, maintenance, comfort and well-being.”

A judge has yet to rule.

Culled from Rada online

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