The Economic and Financial Crimes Commission (EFCC) has arraigned Precious Williams, Director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, for allegedly defrauding over 3,000 investors to the tune of N13.8 billion.

Williams appeared before S.I. Mark, judge of a federal high court in Port Harcourt, on a 14-count charge bordering on conspiracy, obtaining money under false pretence, and money laundering.

Williams, who was arrested following multiple petitions from victims, was said to have received N10 billion through her company’s Sterling Bank account between August 2019 and February 2020.

According to the anti-graft agency, she received the money from Maxwell Chizi Odum (still at large) and his company, MBA Trading and Capital Investment Ltd, knowing the funds were proceeds of fraud.

The EFCC said the money was collected from unsuspecting investors under the false promise of 10 per cent to 15 per cent monthly returns.

The agency also accused Williams and Pelegend Nigeria Ltd of receiving over N1 billion through a Polaris Bank account between December 2019 and November 2020.

However, the accused pleaded not guilty to all charges.

Prosecution counsel E.K Bakam requested a trial date and asked that the defendant be remanded in custody. Still, the defendant’s counsel, Tochukwu Maduka, appealed to the court to grant Williams bail to allow adequate preparation for trial.

Opposing the bail application, Bakam argued that it was filed prematurely before the amended charge and arraignment.

The court agreed, ruling that a new bail application must be filed.

Consequently, Justice Mark ordered that Williams be remanded at the Port Harcourt Correctional Centre and adjourned the case to June 17, 2025, for the hearing of the bail application.

Vanguard News