Home Scam/Fraud SEC denies registering MBA Capital and Trading » Scammer News

SEC denies registering MBA Capital and Trading » Scammer News

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The Securities and Exchange Commission said on Monday that MBA Capital and Trading Ltd is not a registered capital market operator with the commission.

The PUNCH had reported last week that victims of an alleged scam perpetrated by MBA Capital and Trading Limited were worried over their unpaid dividend and capital, and the disappearance of the Chief Executive Officer, Maxwell Odum.

The report quoted the victims, numbering 52, as saying they were defrauded of N122.51m, adding that the company closed on December 22, 2020, for the festive season but had failed to resume since then.

SEC, in a statement, said, “The attention of the Securities and Exchange Commission has been drawn to a publication in one of the national daily newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading Limited, Misan Sagay, reportedly stated that he had verified ‘online’ and ascertained that the company was…

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