July 12, 2023/US SEC On July 12, 2023, the Securities and Exchange Commission filed an emergency action to halt an alleged multimillion-dollar Ponzi scheme run by Durham, North Carolina resident Nayeem Choudhury and his hedge fund, Dream Venture Capital Group LLC. According to the SEC’s Complaint, filed in the United […]
Frauds & Scandals
SEC Charges Merrill Lynch and Parent Company for Failing to File Suspicious Activity Reports
July 11, 2023/US SEC The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) from 2009 to late 2019. Merrill Lynch agreed to pay […]
SEC Urges FRSC Officers to Shun Ponzi Schemes
July 10, 2023/SEC Nigeria Officers of the Federal Road Safety Corps have been urged to avoid Ponzi schemes and only invest in entities registered with the regulatory body.The Securities and Exchange Commission gave the advise during an investor enlightenment programme tagged “Investor Safety” for officers of the Federal Road Safety […]
