January 16, 2025 By InvestAdvocate Lagos (INVESTADVOCATE)-The Economic and Financial Crimes Commission (EFCC) has leveled a damning 13-count charge against Chief Oba Otudeko, Chairman of Honeywell Group, and Olabisi Onasanya, former Managing Director of First Bank, over an alleged fraudulent scheme involving ₦12.3 billion. The charges, filed at the Federal […]
Frauds & Scandals
SEC Obtains Summary Judgment in Microcap Fraud Litigation
January 16, 2025/US SEC On November 18, 2024, the United States District Court for the Southern District of California granted the Securities and Exchange Commission’s motion for summary judgment against Andrew Hackett based on his criminal conviction for related conduct. According to the SEC’s complaint, beginning in February 2017, Hackett […]
SEC Charges New York Blockchain Engineer with Perpetrating “Rug Pull” Fraud
January 16, 2025/US SEC The Securities and Exchange Commission today charged New York blockchain engineer Eric Zhu with perpetrating a fraudulent scheme to defraud investors in the “Game Coin” token (“GME”), a crypto asset that was offered and sold as a security by Game Coin, LLC and its founders. As […]
