₦airaland Forum

good

ujasenta:
will it be death setence for him?

Please kindly vote for me here https://mobile.twitter.com/runzlord/status/639602054546255872?p=v
The link to the voting page is in that status, cos I can't post the link directly on Nairaland.

It a a palm selfie contest by samsung.

Get it right! That's not an igbo name..... Besides never attached or attributes wrong doing with a tribe... I'm not an igbo person ... I'm from a core Yoruba tribe (ijebu if you cares). Corruptions and bad behavior should be seen as a personal greed not religious or tribal greed[quote author=Demmocrats post=37894892][/quote]

Nice one

Albert Okumagba wont escape this one......SEC and the aggrieved investors mean him big time!!
No doubt about the allegations against him.... I have an insider in BGL
So waiting to see how this will pan out..... All of his protectors at SEC have gone, and the new leadership at SEC are all out to get him nailed!

What about DAAR plc,IGI plc,Acorn petroleum and other broking firms who swindled Nigerians during that era of mad love for IPO/Private placement scams.
Okumagba and his co travellers in these companies should be arrested.
I learnt Jonathan nearly made this man who got those criminally minded stockbrokers to elect him their president of Chartered Institute of Stockbrokers (CIS) the D.G of Securities Exchange Commission

If what I gathered before this time is true then this is some shiite that is long overdue for action. I may be wrong but if info at my disposal is correct he should have been behind bars before now.

Fraudsters Fraudsters Fraudsters in every nook and cranny of the country. We keep on hearing this stole billion that stole billion.

This set of people have killed the dream of many people directly or indirectly .

The government should implement death penalty for this Fraudsters. This people has killed dreams of people, so tell me why dey don't deserve a death sentence.

dyn1800:
Get it right! That's not an igbo name..... Besides never attached or attributes wrong doing with a tribe... I'm not an igbo person ... I'm from a core Yoruba tribe (ijebu if you cares). Corruptions and bad behavior should be seen as a personal greed not religious or tribal greed

Bro are you sure you quoted the right person am confused lol

But on May 27, 2015, BGL had obtained an interim injunction by [size=20pt]Justice Saliu Saidu [/size]restraining SEC from suspending it from participating in capital market activities.

Also on July 21, 2015, the firm obtained another interim injunction by [size=20pt]Justice Mohammed Idris [/size]stopping the plan by SEC to hear the various petitions against it.

Prof Itself Sagay Committee and National Judicial Council should note and investigate these kinds of Judges

chizzy082:
akpa amu

Hahahaha you nailed it bro badt guy

margclever:
stupid bigot, is that name igbo, product of a deformed free education

Okumagba na topical Uhrobo man ooo!!!...in fact one of d key holders in uhrobo kingdom

marked10:
Operatives of the Economic and Financial Crimes Commission have arrested the Group Managing Director of BGL Plc, a Lagos-based financial services company, Mr. Albert Okumagba, for alleged N28.9bn fraud.

An operative of the commission, who confided in our correspondent, said that those investigating the matter had been grilling the BGL boss for allegedly obtaining money by false pretences.

Though Okumagba on Thursday made a bid for his freedom but he failed to obtain an interim injunction barring the EFCC from arresting him.Justice Mohammed Yunusa refused to grant the ex parte application argued by Okumagba’s counsel, Kolawole Reheem.

He also refused to order the EFCC to appear in court to justify why Okumagba’s prayers should not be granted. Rather than grant Okumagba’s prayers, Justice Yunusa asked that the processes should be served on the respondents in Lagos as prayed in reliefs 5 and 6.

https://punch.cdn.ng/wp-content/uploads/2015/09/Albert-Okumagba-360x240.jpg
Our correspondents found that Okumagba was picked up by anti-graft operatives on Wednesday in response to a petition by the by the Security and Exchange Commission in May, 2015. An EFCC source said, “The EFCC has arrested Mr. Albert Okumagba, Group Managing Director of BGL Plc, a financial services company, for offences allegedly bordering on obtaining money by false pretences.

“The 51-year-old, who hails from Delta State, was picked up late Wednesday, September 9, 2015, by operatives of the EFCC.

“His arrest was triggered by investigation into a petition submitted to the anti-graft agency by the Security and Exchange Commission in May 2015. “The suspect is alleged to have diverted the sum of N28.9bn being proceeds of private placements of 4.3bn ordinary shares of 50k each at N7.00k per share in 2007.

“The company, whose subsidiaries include BGL Capital, BGL Private Equity, BGL Security and BGL Asset Management, allegedly lured 50 investors from across the country into subscribing to the company’s shares, promising them options of liquidity and exit within two years.”

It was stated that the investors were not able to liquidate their assets contrary to the promise made to them and that an alleged promise that BGL would be listed on the Securities and Exchange Commission two years after the offer in 2008 was not fulfilled

The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, confirmed the arrest and interrogation of the BGL boss. No fewer than 40 petitions were said to have been sent to the SEC against BGL by aggrieved capital market investors in the country as well as the Rivers State Ministry of Finance.

The SEC had earlier announced the suspension of the BGL Group from capital market activities on the strength of the allegations contained in the petitions. But on May 27, 2015, BGL had obtained an interim injunction by Justice Saliu Saidu restraining SEC from suspending it from participating in capital market activities.

Also on July 21, 2015, the firm obtained another interim injunction by Justice Mohammed Idris stopping the plan by SEC to hear the various petitions against it.


http://www.punchng.com/news/n28-9bn-fraud-efcc-arrests-bgl-boss-okumagba/

This were the kind of stealing and fraud that was taking place under the past administration and was swept under thecarpet. never again thank God for the new sheriff in town.

If any has dupe you before and you no get justice , now naa the time to settle score. police cannot no longer swept injustice under the carpet again. Even the judiciary now know no more kangaroo judgements

This thief once contested for primaries under pdp for delta state. Rogues everywhere.

May he end up in jail..... OLE!!!

EGBA.. my former boss .. used to roll with Tony Elumelu and Jim Ovia and some notable personalities..

Crime does not pay - unless you involve top shots who can boss the EFCC around.. ask Bukola Saraki

The ediot and him brother Charles follow 4 pple wey kill defunct Oceanic Bank. They and one useless Charles Mekwunye were the people that corrupted Madam Cecilia Ibru and made her go astray. I still miss that Bank, I swear! God will punish all of una one by one!

Another "Wolf of Wallstreet". Seen the movie before?
But this one is a "Wolf of Lagos"

datarush247:
everyday for the thief, one day for the owner

Thief calling another thief thief! Na u be next, dem go soon catch u!

kkkp:
Igbos and fraud

Try not to display your oozing stupidity next time. He is not an Igbo. Even if he is, that statement is in bad taste

sleemfesh:
Next thing u will find yourself CV in hand before same Igbo begging for a job. Imbecilic cynic.
Meanwhile he is not even said to be Igbo.

u should have left the fool to his folly.

datarush247:
everyday for the thief, one day for the owner

Scam alert.
thunder fire you

kkkp:
Igbos and fraud

He is not Igbo but Urhobo man

kkkp:
Igbos and fraud

And I thought I'd seen it all.....
You should put your brain on sale on Jumia, I would have suggested OLX but its obvious you've never used it.

kkkp:
Igbos and fraud

Albert Okumagba is from the well known Okumagba family of Okere Urhobo Kingdom of Warri, Delta State. He is an Urhobo by tribe. He contested for the governorship ticket of PDP in 2007 but lost to former Gov Emmanuel Uduaghan.

There are good and bad persons in all ethnic groups. Tribalism is evil.

Let the law take its course.

Freemanan:

GOODBOIYY COME AND SEE THE EDIATS THAT STOLE ALL OUR STATE FUNDS...


THUNDER MANIKWE GI ALL OF THEM

When did he steal your state funds? abi na Bernard picture and name bi dat? You clearly know nothing about your so called state. Nevertheless carry on, " NL deltans".

ElFenomeno1:
Albert Okumagba wont escape this one......SEC and the aggrieved investors mean him big time!!
No doubt about the allegations against him.... I have an insider in BGL
So waiting to see how this will pan out..... All of his protectors at SEC have gone, and the new leadership at SEC are all out to get him nailed!

u are so right. It was just a matter of time before they pick him up nd it has happened. I hope they wnt sweep it under d carpet cos Albert deserves to go down. Bloody rogue

“The company, whose subsidiaries include BGL Capital, BGL Private Equity, BGL Security and BGL Asset Management, allegedly lured 50 investors from across the country into subscribing to the company’s shares, promising them options of liquidity and exit within two years.”

It was stated that the investors were not able to liquidate their assets contrary to the promise made to them and that an alleged promise that BGL would be listed on the Securities and Exchange Commission two years after the offer in 2008 was not fulfilled"


I hope these 50 investors read the fine print on their contracts, before going to court. You invested in an option trade with a 24 months exit. Every trade comes with its risk, stop crying and deal with it.. The market has two sides, up or down. When you lose money like many did between 2006-2010, take it in stride and move on. Many have lost almost N4 trillion in last 120 days, who should they sue

Freemanan:

GOODBOIYY COME AND SEE THE EDIATS THAT STOLE ALL OUR STATE FUNDS...


THUNDER MANIKWE GI ALL OF THEM

Freemanan Na God dey expose them so oo, Oya EFCC cum Uwvie abeg , So many criminals here, ....

Body sweet me 4 this catch,

LKO:
Albert Okumagba is from the well known Okumagba family of Okere Urhobo Kingdom of Warri, Delta State. He is an Urhobo by tribe. He contested for the governorship ticket of PDP in 2007 but lost to former Gov Emmanuel Uduaghan.

There are good and bad persons in all ethnic groups. Tribalism is evil.

Let the law take its course.

Mavor.. Long time oo..

Nice response bro, Thanks 4 correcting that Egoat.. , I gat alot of respect 4 The Okumagba's

onomeasike:
What about DAAR plc,IGI plc,Acorn petroleum and other broking firms who swindled Nigerians during that era of mad love for IPO/Private placement scams.
Okumagba and his co travellers in these companies should be arrested.
I learnt Jonathan nearly made this man who got those criminally minded stockbrokers to elect him their president of Chartered Institute of Stockbrokers (CIS) the D.G of Securities Exchange Commission

Your head dey there.
That IGI issue seems must have died with the death of the owner.
Why any sane person will buy shares from a company run by Dokpesi beats me. A man who has never run his company well enough to pay salaries regularly.
I am sure BGL have been into these scams in the past. Those covering him have departed,so he can now be exposed.

atlwireles:
“The company, whose subsidiaries include BGL Capital, BGL Private Equity, BGL Security and BGL Asset Management, allegedly lured 50 investors from across the country into subscribing to the company’s shares, promising them options of liquidity and exit within two years.”

It was stated that the investors were not able to liquidate their assets contrary to the promise made to them and that an alleged promise that BGL would be listed on the Securities and Exchange Commission two years after the offer in 2008 was not fulfilled"


I hope these 50 investors read the fine print on their contracts, before going to court. You invested in an option trade with a 24 months exit. Every trade comes with its risk, stop crying and deal with it.. The market has two sides, up or down. When you lose money like many did between 2006-2010, take it in stride and move on. Many have lost almost N4 trillion in last 120 days, who should they sue

stop talking crap. SEC investigated the case before taking up BGL. This is not even about the 50 investors.