Frauds & Scandals

INVESTIGATION: How Lagos govt sidelined local operators for foreign company with no experience in waste collection

Photo Credit: Sahara Reporters 2/4/2018/Premium Times by Nicholas Ibekwe Brimming with confidence like the salesman of an elixir that promises to finally cure an intractable disease, the Governor of Lagos State, Akinwunmi Ambode, told participants at an environmental conference last July, that Visionscape, a foreign waste management company, was the […]

Alleged N5.5bn Debt: Court Suspends Hearing In Honeywell’s Suit

2/4/2018/Sahara Reporters The Federal High Court in Lagos has suspended the hearing of a N5.5billion debt case between Honeywell Flour Mills Plc, its sister companies and Ecobank Nigeria Limited. The companies are praying the court to hold that they are not indebted to Ecobank. Justice Mohammed Idris had adjourned the […]

SEC Halts Fraudulent Scheme Involving Unregistered ICO

2/4/2018/US SEC The Securities and Exchange Commission on April 2, 2018 charged two co-founders of a purported financial services start-up with orchestrating a fraudulent initial coin offering (ICO) that raised more than $32 million from thousands of investors last year.  Criminal authorities separately charged and arrested both defendants.    The SEC’s complaint […]