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Securities and Exchange Commission v. Odogwu Banye et al
Case Number:
1:23-cv-10928
Court:
Nature of Suit:
Judge:
Government Agencies
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August 29, 2024
Nigerian Fintech Ex-CEO Hit With $32M Fine In SEC Fraud Suit
A New York federal judge has levied a nearly $32 million penalty against a Nigerian businessman whom the U.S. Securities and Exchange Commission has accused of fraudulently inflating the value of his food and agriculture technology businesses, while also ordering him and various affiliated businesses to cough up hundreds of millions of dollars in disgorgement and prejudgment interest.
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December 18, 2023
SEC Sues To Stop 'Staggering' Nigerian Fintech Fraud
The U.S. Securities and Exchange Commission on Monday sued the alleged ringleader of a "staggering" scam that twice valued a virtually worthless Nigerian financial technology company at over $1 billion in order to secure a pair of mergers that allowed it to trade publicly on the Nasdaq.