Vanguard gathered that total claims against the Wonder Banks have risen to N106 billion, a situation the commission said did not augur well for the development of the capital market and the economy in general.
Director General of the SEC, Ms. Arunma Oteh, who confided in Vanguard on the commission’s zero tolerance, said: “We will not rest in our determination to restore investors’ confidence and protection. So, for those registered capital market operators who collected money from innocent investors with the intention of investing the money in the capital market and thereafter absconded to other countries, the commission will try as much as possible to track down these fraudsters and bring them back to Nigeria for prosecution.”
On how the fraudsters would be tracked down, she said: “The commission had signed bilateral agreement/cooperation on securities dealings with member countries of the International Organisation of Securities Commissions, IOSCO.
“Also, we intend to sign more bilateral cooperation with security agents across the world. So there will be no hiding place for any registered capital market operators who must have duped investors and run away to other countries. We will get them through these security operatives once information about these people are sent to them.
More on Authors's site: http://www.vanguardngr.com/2012/12/runaway-wonder-banks-operators-ll-be-tracked-down-sec/
| Posted: at | |
Idbabe
winace
micc
TRENDING GISTS 
Police Parade One-Man Interstate Phone Thief, 10 Others In Kwara
VID: Singer Paul Okoye Cries Out Over The Struggles Of House Chores In The UK
VIDEO: Unrest In Plateau As Gunmen Kill University Student, 19 Others 20 In Fresh Attack
Mayorkun Slam Nicki Da Barbie With N1b Lawsuit For Damaging His Reputation, Accusing Of Been A Rapist
Jubilation in JUTH As 49 Year Old Woman Welcomes Quadruplets After 15 Years of Waiting
Davido Collaborates With UnitedMasters To Launch New Music Label
New Super Eagles Head Coach Will Be Announced in Two Weeks - Sports Minister Reveals
Nina Ivy Recounts Her Delivery Journey as She Celebrates Her Son’s 4th Birthday (Video)