Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,153,086 members, 7,818,258 topics. Date: Sunday, 05 May 2024 at 11:20 AM |
Nairaland Forum / Nairaland / General / Investment / Good News!!! FG Shuts Down Ponzi Scheme, Arrests Promoters (1285 Views)
MenzGold: 15 Persons Die As Ponzi Scheme Crashes In Ghana / SARS Arrest Woman Who Opened Ponzi Scheme In Awka After The Scheme Crashed(pics) / NNN Nigeria: Nigerians Caution Each Other Against Ponzi Scheme (2) (3) (4)
(1) (Reply)
Good News!!! FG Shuts Down Ponzi Scheme, Arrests Promoters by pcei: 1:35pm On Feb 27, 2017 |
The Nigerian Government, through the Securities and Exchange Commission (SEC), has sealed up the premises of Yuan Dong (YDEC) Ponzi scheme over illegal investment operations in the country. Head, Corporate Communication of SEC, Mr Naif Abdussalam, in a statement on Sunday in Abuja, said the closure was to end unlawful activities of the company against unsuspecting investors. “Investments in the scheme range from a minimum deposit of N10,000 to a maximum deposit of N240,000. “The investment period of the scheme is pegged at a minimum of 30 working days to a maximum period of 10 months with offer of interest rates on short and medium term basis. "The company promises a daily profit of N80 and N2,400 depending on the category of investment,” he said. Abdussalam disclosed that the commission’s investigations showed that the company also enticed its customers with payment of bonuses should they convince more investors to invest in the scheme. He said that the commission had established that the company’s activities also constituted a breach of the Investment and Securities Act (ISA), 2007. “Furthermore it was discovered that contrary to their supposed existence in over 20 locations across the country, the company only has functional offices in Asaba, Kano and Abuja. “The promoters of these illegal operations have been arrested by the Nigeria Police Force and are undergoing interrogation. “The Commission wishes to notify the investing public that the company is not licensed to carry out investments business of any type and as such its operations are illegal,” he said. Abdussalam advised the public to exercise due diligence and caution in the course of making investment decisions. He said valid licence of lawful operators could be obtained on the commission’s website by members of the public to confirm the licences of firms they intend to carry investment activities with. |
Re: Good News!!! FG Shuts Down Ponzi Scheme, Arrests Promoters by Nobody: 2:31pm On Feb 27, 2017 |
Will dey recorver peoples money? If not, fvck ponzi, fvck govt |
Re: Good News!!! FG Shuts Down Ponzi Scheme, Arrests Promoters by segebase(m): 9:56pm On Feb 27, 2017 |
nnnn mmmm |
(1) (Reply)
Work Commences On Imperial Business City In Lagos, As Investors Get Assuran / Best Banking Stocks To Buy Right Now In Nigerian / 5 Strings Mackie Passive Bass Guitar
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 9 |