Frauds & Scandals

Contempt: Bank Asks Court to Jail DMO’s DG

Ecobank Nigeria Limited has accused the Director General of the Debt Management Office (DMO), Mr. Abraham Nwankwo, for frustrating its move to recover a huge debt allegedly owed it by an oil marketing firm, First Deepwater Discovery Limited. The bank’s lawyer, Mr. Kunle Ogunba (SAN), appeared on Tuesday before a […]

Accused ‘flash crash’ trader tells UK court: ‘I did nothing wrong’

Wed May 6, 2015/Reuters The British trader fighting extradition to the United States on charges of having contributed to the 2010 “flash crash” on Wall Street told a London court on Wednesday he had done nothing wrong and was just good at his job. Navinder Singh Sarao, 36, who traded […]

IOSCO Unveils Report against Investment Fraud

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global securities regulator, the International Organisation of Securities Commissions (IOSCO) said on Wednesday it has unveiled its report on how investors can protect themselves against investment fraud. The survey titled “Survey on Anti-Fraud Messaging” describes strategies used by some securities market regulators to educate individual […]