December 10, 2021/US SEC The Securities and Exchange Commission today announced it charged three Canadian citizens with carrying out a fraudulent scheme involving penny stocks which generated tens of millions of dollars in proceeds but left investors with nearly worthless shares of various public companies. According to the SEC’s complaint, […]
Frauds & Scandals
N69.4Billion Debt: Finally, Jimoh Ibrahim Loses Appeal Against AMCON
December 10, 2021/AMCON At long last, the Court of Appeal Lagos Division has dismissed an appeal by the Chairman of Global Fleet Group, Barrister Jimoh Ibrahim, challenging the Asset Management Corporation of Nigeria (AMCON)’s seizure of his 12 assets and freezing of all his accounts over his alleged N69.4billion debt. […]
SEC Charges Tech Employee and His Brother-In-Law with Insider Trading
December 9, 2021/US SEC The Securities and Exchange Commission charged former Snap Inc. engineer Mohammed “Mo” Pithapurwala with unlawfully tipping his brother-in-law, Ammar Kutiyanawalla, who purchased Snap options on the basis of material nonpublic information ahead of the company’s February 6, 2018 earnings announcement. According to the SEC’s complaint, after […]
