he debarment renders China Zhonghao Nigeria Limited and its affiliates ineligible to participate in Bank-financed projects during the debarment period April 20, 2020/AfDB The African Development Bank Group (www.AfDB.org) on 14 April 2020, announced the debarment of China Zhonghao Nigeria Limited, a civil engineering company registered in Nigeria, for 18 […]
Frauds & Scandals
SEC Charges Former Registered Representative with Defrauding Investors
April 17, 2020/US SEC On April 16, 2020, the Securities and Exchange Commission charged Phillip W. Conley, a West Virginia-based former registered representative, with conducting a $5.2 million fraudulent securities offering. The SEC’s complaint alleges that, between January 2014 and September 2018, Conley induced investors to purchase securities by making […]
AfDB places Zhongmei Engineering Group Limited on 12 months conditional non-debarment for fraudulent practice
While submitting a bid for the tender for the Upgrading of the Rukungiri-Kihihi-Ishaka/Kanungu Road in Uganda, the company misrepresented its date of incorporation April 17, 2020/AfDB The African Development Bank Group (http://www.AfDB.org) on 17 April 2020, announces a 12-month conditional non-debarment of Zhongmei Engineering Group Limited, an engineering company registered […]
