ponzi scheme

 The Securities and Exchange Commission has uncovered another suspected illegal investment platform, identified as TOFRO.COM (Tofro), warning Nigerians against falling for the operators' antics to obtain money from them through…

The Securities and Exchange Commission (SEC) has stated that the Crypto Bridge Exchange, also known as CBEX, was not granted registration by the Commission to operate as a Digital Assets Exchange in Nigeria. CBEX is a Chinese online…

Many women and men broke down on Tuesday in Ogun State and wept as if their hearts were breaking after discovering that the money invested in an investment firm, Legend Empowerment Services, hoping it will triple within three weeks, went up…

South Africa’s finance-industry regulator wants more power to prosecute perpetrators of fraud and oversee dealing in cryptocurrencies after the collapse of a bitcoin trader, alleged to be the country’s largest Ponzi scheme. The Financial…

Barely a few weeks after it took over the social media, targeting young Nigerians to participate in a pyramid scheme, Loom, a Ponzi scheme has slowed down, as fewer people now reportedly invest in it. Probably garnering lessons from the…

The Securities and Exchange Commission, SEC, has raised the alarm over the activities of some online fraudsters, who are currently running an online investment scheme tagged ‘Loom Money Nigeria’. Loom…

Barbara Bako, Abuja. The Securities and Exchange Commission (SEC), has sealed off the premises of Dantata Success and  Profitable Company, Kano for engaging in illegal capital market activities. According to a statement from the…

National Insurance Commission (NAICOM) has dissociated itself from a Ponzi scheme, which was recently ascribed to it and is currently trending on the social media. The NAICOM spokesman, Abdulrasaq Abdulsalami, said in a statement on…

The Senate of the federal republic of Nigeria has expressed great concern over the widespread usage of Bit-coin, a form of Crypto-currency and other ponzi schemes across the country. This was consequent upon a motion moved by Senator…