Ponzi Archives -

Nigeria Urged To Create Compensation Fund For Ponzi Scheme Victims

Kingsley Chukwu4 weeks ago03 mins

Professor Uche Uwaleke, a leading capital market expert, has called for the creation of a National Compensation Fund to provide relief to victims of Ponzi frauds, warning that the schemes pose a growing threat to citizens’ financial security. Speaking at a virtual workshop on Sunday, Uwaleke, who also serves as President of the Capital Market…

Ponzi Operators Risk 10-year Jail Term, N20m Fine – SEC

Kingsley Chukwu6 months ago03 mins

Promoters and operators of entities engaged in a prohibited scheme is liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. Thr Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly signed Investments…