Frauds & Scandals

SEC Obtains Final Judgments Against City of Victorville, California and Others in Municipal Bond Fraud

August 8, 2018/US SEC The U.S. Securities and Exchange Commission has obtained a final judgment against the City of Victorville, California in connection with a $13 million “tax increment” bond offering. The SEC also obtained final judgments against the Southern California Logistics Airport Authority, which was an agency set up […]

SEC Charges Cloud Communications Company, Two Senior Executives With Misleading Revenue Projections

August 7, 2018/US SEC The Securities and Exchange Commission today charged a cloud communications company and two executives with providing misleading quarterly revenue estimates. The company and executives agreed to pay over $1.9 million in penalties to settle the SEC’s charges. According to the SEC’s order, Sonus Networks Inc.’s former […]

Osinbajo Fires Lawal Musa Daura DG SSS Appointment

August 7, 2018/State House The Acting President, Professor Yemi Osinbajo, SAN, has directed the termination of the appointment of the Director-General, State Security Service, Lawal Musa Daura with immediate effect. Mr. Daura has been directed to hand over to the most senior officer of the State Security Service until further […]