PORT HARCOURT – The Economic and Financial Crimes Commission (EFCC) on Tuesday 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 for allegedly defrauding over 3,000 investors of N13.8 billion through a fraudulent investment scheme.
Williams faced a 14-count charge bordering on conspiracy, obtaining money under false pretence, and money laundering. The EFCC alleged that between August 2019 and February 2020, she received N10 billion through her company’s Sterling Bank account from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Ltd, knowing the funds were proceeds of fraud.
Investors were lured with promises of 10% to 15% monthly returns, which were never paid. Another N1 billion was allegedly traced to her Polaris Bank account as part of the scheme.
Williams pleaded “not guilty” to all charges. Prosecution counsel E.K. Bakam requested a trial date and sought her remand, while defence lawyer Tochukwu Maduka applied for bail. The court rejected the bail application, ruling it premature, and ordered Williams remanded in Port Harcourt Correctional Centre.
The case was adjourned to June 17, 2025, for a fresh bail hearing.