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. […]
Frauds & Scandals
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 […]
SEC Obtains Judgments Against Bitconnect’s Lead National Promoter and His Company for Antifraud and Registration Violations
December 9, 2021/US SEC On December 3, 2021, the United States District Court for the Southern District of New York entered judgments against Glenn Arcaro and his company, Future Money Ltd., for the promotion of the BitConnect “lending program.” Arcaro previously pleaded guilty to Conspiracy to Commit Wire Fraud before […]
