Fraud & Scandals Subscribe to Fraud & Scandals
SEC Charges Businessman with Stealing Millions from a Pension Plan
April 18, 2018/US SEC The Securities and Exchange Commission charged a Memphis, Tennessee-area businessman with stealing approximately $5.7 million from a Pennsylvania company’s pension plan. According to the SEC’s complaint… Read more
N3.2bn Fraud: NDIC Deputy Director Testifies in Ex-Gov. Kalu’s Trial
17/4/2018/Sahara Reporters The Economic and Financial Crimes Commission, EFCC, on Tuesday put Deputy Director, Nigeria Deposit Insurance Corporation, NDIC, Mr. Chidi Chukwuka, in the dock to tender documents indicating how… Read more
Online Racket By Swiss Golden Swindles Over 7,000 Nigerians of N3Bn
Culled—Proshare April 18, 2018 By Yusha’u A. Ibrahim of Daily Trust The Economic and Financial Crimes Commission (EFCC) has recovered N216, 402,565.05 from Swiss Golden Investment, an online ‘investment’ that… Read more
Edo State Ranks Highest in Drug Seizure in 2017
April 17, 2018 By InvestAdvocate Lagos (INVESTADVOCATE)-Edo State has ranked highest in drug seizure in 2017, recording 45,338 kilogram (KG) of drug seized, while Zamfara State recorded the least with 87.21kg… Read more
SEC Charges Virginia Investment Adviser with Fraud
April 16, 2018/US SEC The Securities and Exchange Commission has charged an investment adviser with orchestrating an investment scheme over several years. The SEC’s complaint alleges that, from at least… Read more
SEC Obtains Final Judgment Against Investor Relations Writer Charged with Fraudulent Stock Promotion Scheme
April 16, 2018/US SEC On April 10, 2018, the U.S. District Court for the Western District of Washington entered a final judgment against Vincent Cassano for his role in a… Read more
Globacom, Chief Marketing Officer Hit With $6.7m Fraud Charge
April 16, 2018/Sahara Reporters The Economic and Financial Crimes Commission has arraigned leading Nigeria telecommunication firm, Globacom Nigeria Limited and its Indian Chief Marketing Officer, Ashok Israni, before Justice A.O…. Read more
SEC Announces Suspension of Corix Bioscience
April 13, 2018/US SEC The Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading… Read more
SEC Charges CEO in Penny Stock Fraud Scheme
April 13, 2018/US SEC The Securities and Exchange Commission charged the CEO of a Chicago-area penny stock company with making false and misleading statements in the company’s SEC filings and… Read more
Victims of Bernard Madoff’s Ponzi Scheme to Receive Millions More
12/4/2018/The New York Times By KATIE BENNER Victims of Bernard L. Madoff, the architect of one of Wall Street’s largest frauds, will receive another $504 million, proceeds from assets that… Read more
