Shareholders of Mass Telecommunication Innovation Plc have accused five former directors of the company of illegally utilising about N5.2bn raised by the company through private placement in 2008. A petition written on behalf of the Chairman, MTI, Kasimu Garba, and other shareholders, to the Securities and Exchange Commission by Punuka […]
Tag: Fraud
Banker arrested for withdrawing N50m from customers’ accounts
The Special Fraud Unit, Ikoyi, Lagos State, has arrested an account officer with Guaranty Trust Homes, Adeola Olokojobi, in connection with a N50m fraud at the financial institution. Prior to his arrest, Olokojobi was said to be working at the GT Homes, Saka Tinubu branch, Victoria Island. PUNCH Metro gathered […]
SAC’s Steinberg found guilty of insider trading
Michael Steinberg, a top portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty on Wednesday on charges that he traded on insider information. A federal jury in Manhattan found Steinberg, 41, guilty on all five counts of conspiracy and securities fraud that he faced. Prosecutors […]
