Fraud & Scandals Subscribe to Fraud & Scandals

SEC Obtains Final Judgment Ordering Pyramid Scheme Promoter to Pay Over $1 Million

August 14, 2018/US SEC A promoter of a pyramid scheme targeting Latino communities has agreed to transfer assets valued at over $1 million in a related bankruptcy proceeding and admit… Read more »

SEC Files Charges in Municipal Bond “Flipping” and Kickback Schemes

August 14, 2018/US SEC The Securities and Exchange Commission today charged two firms and 18 individuals in a scheme to improperly divert new issue municipal bonds to broker-dealers at the expense… Read more »

Acting President Orders Immediate Overhaul of SARS

*Directs investigation on alleged violations of the squad August 14, 2018/State House Following persistent complaints and reports on the activities of the Special Anti-Robbery Squad (SARS) that border on allegations… Read more »

SEC Charges Unregistered Sales Agent for Improperly Soliciting Investments in Oil and Gas Ventures

13/8/2018/US SEC On August 13, 2018, the Securities and Exchange Commission filed a civil injunctive action against Chad Anthony Lewis, a Kentucky resident for unlawfully acting as an unregistered broker… Read more »

Private Sector Participation in Fighting Corruption Crucial-Ag President Says

**Adds – Fighting corruption not just government business alone “I want to say to those of you in the private sector, this issue of fighting corruption and rent-seeking is existential… Read more »

Re: False Claims Stemming from Video Post

Lagos, August 10, 2018: Our attention has been drawn to a social media video featuring an assault on two people at a Fidelity Bank branch in Lagos. The two individuals… Read more »

SEC Charges Fixed Income Trader with Entering Fictitious Sales to Avoid Brokerage Firm’s Inventory Limits

August 8, 2018/US SEC On August 6, 2018, the Securities and Exchange Commission charged Salvadore D. Palermo, a trader formerly employed by J.P. Turner & Company, L.L.C., with entering fictitious… Read more »

SEC Charges U.S. Congressman and Others With Insider Trading

August 8, 2018/US SEC The Securities and Exchange Commission today announced the filing of insider trading charges against Congressman Christopher Collins, the U.S. Representative for New York’s 27th Congressional District,… Read more »

Staco Fires Sakiru Oyefeso as CEO, Appoints Bayo Fakorede

  August 8, 2018/NSE We wish to notify The Exchange, our shareholders and our esteemed stakeholders that the Board of Directors of Staco Insurance Plc (the Company) at its meeting… Read more »

SEC Obtains Final Judgments Against City of Victorville, California and Others in Municipal Bond Fraud

August 8, 2018/US SEC The U.S. Securities and Exchange Commission has obtained a final judgment against the City of Victorville, California in connection with a $13 million “tax increment” bond… Read more »