According to a 2021 fraud report from the NIBSS, the incidents of overall fraud attempts in Nigeria between 2019 to 2020 increased by 187% May 15, 2023/DPO Fear of fraud is hindering the uptake of e-commerce in Nigeria, slowing the growth of business and entrepreneurship in the country. Some industry […]
Frauds & Scandals
SEC Secures Judgment to Bar Former Microcap CEO
May 12, 2023/US SEC The SEC recently resolved its litigation against Kevin Gillespie, formerly the CEO of a microcap issuer. According to the SEC’s complaint, beginning in February 2017, Gillespie and others engaged in a scheme in conjunction with a promotion of the stock of Arias Intel Corp. (“ASNT”). In […]
SEC Obtains Final Judgment Against Former Broker for Role in Alleged Offering Fraud
May 12, 2023/US SEC On May 5, 2023, the U.S. District Court for the Eastern District of New York entered a final judgment against Matthew Bell, enjoining him from violating certain provisions of the federal securities laws. According to the SEC’s complaint, starting in 2013, Bell was involved in a […]
