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 
I Brought Afrobeat to America, Even Before Wizkid & Drake's Collabo - Singer, Rotimi (VID)
PHOTOS: 8 Years Old Girl Severely Assaulted and Left Almost Blinded by Her Aunt in Lagos
Watch Touching Video Of Lady Surprising Boyfriend Who’s An Okada Rider
Sports Minister, John Enoh Roots For Peseiro’s Return To Super Eagles
Federal Govt Suspends Dana Airline Indefinitely Over Safety Concerns