The Securities and Exchange Commission says Alpha Trust Investment Club and its investment schemes are not registered or approved by the capital market regulatorIn a statement on June 26, the SEC said operations of the investment club are in contravention of the Investments and Securities Act 2007.
“The attention of the Securities and Exchange Commission , has been drawn to the activities of Alpha Trust Investment Club, an entity that is believed to be facilitating investment to the public,” the SEC said..“The Commission hereby notifies the investing public that Alpha Trust Investment Club and the investment schemes it is promoting are not registered/authorized by the Commission.
“Investment promoters and the general public are by this NOTICE warned that it is a serious contravention of the Investments and Securities Act 2007 for any person or entity to operate as an investment professional or carry on investment and securities business without prior registration with the Commission.”A group had petitioned Kayode Egbetokun, the inspector-general of police , to intervene in an alleged case of fraud and misappropriation by the former CP in Anambra state.
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