By InvestAdvocate Lagos (INVESTADVOCATE)-The Securities and Exchange Commission (SEC) has said the activity of Fantastic EsanBet Nigeria Limited is a ponzi scheme. “The said is not registered by the Commission to perform any function in the capital market and its operations/activities in the capital market are therefore illegal,” SEC said. […]
Tag: Ponzi Scheme
JPMorgan Agrees To Pay $1.7 Billion To Bernie Madoff Victims
JPMorgan Chase has agreed to pay $1.7 billion to victims of Bernie Madoff’s ponzi scheme, according to a statement from the United States Attorney for the Southern District of New York. [via Bloomberg News] U.S. Attorny Preet Bharara will hold a press conference today at 1:15 p.m. EST. Bharara will […]
Criminal action expected for JPMorgan in Madoff case: NYT
JPMorgan Chase & Co (JPM.N) and federal authorities are nearing settlements over the bank’s relationship with convicted Ponzi schemer Bernard Madoff, striking tentative deals that would involve about $2 billion in penalties and a rare criminal action, the New York Times reported. The settlements would fault the bank for […]
