10/12/2016/The Will The Nigerian Senate has stated that the ponzi investment scheme, MMM, is a pyramid that would soon burst, warning Nigerians to be wary of the Russian originated investment model which involves directing clients to make money available for an anonymous person with a promise of 30 per cent […]
Frauds & Scandals
Albert Okumagba Arrested at SEC
By InvestAdvocate Lagos (INVESTADVOCATE)-Albert Okumagba, group managing director (GMD) of BGL Plc, was this morning arrested by the Securities and Exchange Commission to the Nigeria Police Force. This is coming on the heels alleged fraud involving Okumagba and the BGL Group in the Nigerian Capital Market (NCM). A source at […]
NSE, EFCC stop N20m capital market fraud
9/12/2016/Punch Stanley Opara The Nigerian Stock Exchange and the Economic and Financial Crimes Commission have succeeded in aborting a N20m fraud targeted at the estate of an investor in the market, the late Prof. David Osifo. The development was contained in a letter by the deceased’s wife, Prof. Bola Osifo, […]
