SEC Secures Jail Terms for Seven Ponzi Scheme Companies and Directors

The Securities and Exchange Commission says it secured convictions against seven companies and their directors for operating Ponzi schemes within the past month. SEC Director-General Emomotimi Agama said the commission worked with the EFCC, Police, ICPC and the Ministry of Justice to investigate and prosecute suspected operators. He said the Investment and Securities Act has strengthened SEC’s power to pursue offenders. Agama warned Nigerians to be cautious of investment offers that appear too good to be true. He said the commission is also expanding its offices to improve access to reliable capital-market information across the country.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.