The Securities and Exchange Commission has sealed off the premises of Oxford International Group/Oxford Commercial Services, Farmforte Agro Allied Solutions Limited/Agro Partnerships, as well as Vektr Capital Investment/Vektr Enterprise for alleged illegal involvement in capital market activities.
SEC, in a statement, said: “These companies do not have registration of the SEC to conduct fund management activities and have been found to promise exorbitant rates of returns to lure investors. The SEC has exercised its powers under Section 13 Investments and Securities Act 2007, to shut them down.
“The public is hereby reminded that it is unlawful for any private enterprise whether incorporated as a company or not, to solicit funds from the public by whatever means, to fund its private ventures as doing this will be in contravention of the Investments and Securities Act, 2007.”
How much were those ones promising?
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