Ponzi scheme
10 Feb
Secondly, greed and high risk taking tendencies among some folks cannot be wished away. This has become obvious considering that Nigerians have high proclivity for greed and gambling. The “get rich quick syndrome” is innate in some of them.
9 Feb
The emergence of “Ponzi Scheme” in the annals of investment’s Lexicon albeit a globally notorious phenomenon, was not a recent development. Its historical antecedent was set in motion with the celebrated Charles Ponzi scheme ...
2 Dec
Justice Tijjani Ringim of a Federal High Court, Lagos, yesterday, issued a bench warrant against an alleged Ponzi scheme operator, Dr. Victoria Yemisi Imase-Regal, for alleged N36.45 million fraud.
10 Aug 2022
The Nigeria Deposit Insurance Corporation (NDIC), has advised Nigerians to beware of ponzi scheme operating under the guise of financial institutions. Mr Chima Onyechere, the Zonal Controller of NDIC, Ilorin Zone, who gave the advice on Wednesday in an interview with the News Agency of Nigeria (NAN), said such financial institutions were fraudulent. Onyechere said…
16 Feb 2022
Zachary Horwitz has confirmed operating a multi-million dollar ponzi scheme. The actor was given a jail term sentence of 240 months (20 years) in the federal prison. Following the sentence, Horwitz is required to pay a compensation of more than $230 million. The Department of Justice made this known in a news release stating that…
28 Jan 2022
The Police Command in Gombe State, has arrested six suspects over attempt to defraud residents of the state.
10 Nov 2021
Sometime this week, I woke up to a message from one of my social media contact in South America drawing my attention to a recent fraud case in Nigeria that involved a couple
11 Aug 2021
The 22 years old man, Joshua Adeyinka Kayode, who allegedly defrauded 170 people of the sum of N10.8 billion under fake investment scheme was Wednesday admitted to bail by Justice Nicholas Oweibo of the Federal High Court, Lagos, in the sum of N2 billion with two sureties in like sum. Justice Oweibo also ordered that…
7 Apr 2020
The Securities and Exchange Commission (SEC) has stated that the commission is currently working with relevant law enforcement agencies to ensure that illegal investment outfits and their promoters face the full wrath of the law.
5 Apr 2020
The Exchange Commission (SEC) has said those who initiate and promote Ponzi schemes in Nigeria will face the consequences by being brought to the book.
29 Jan 2020
The Securities and Exchange Commission (SEC), has said it is currently upgrading its enforcement mechanism to apprehend and seal offices of illegal fund managers in Nigeria.
10 Jan 2020
Africa has increased efforts to tackle rising levels of fraud perpetrated using blockchain technology. This is according to Kwame Rugunda, chairman of the Blockchain Association of Uganda
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Lagos State Governor, Babajide Sanwo-Olu, yesterday, officially commenced his second term in office following the completion of his swearing-in by the state’s Chief Judge, Justice Kazeem Alogba. Sanwo-Olu was optimistic that the best days of the state and its inhabitants lie ahead.
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