The Securities and Exchange Commission has called on the attention of the investing public to an illegal capital market operator known as RUBY GOLD VENTURES (CRYPTO CURRENCY INVESTMENT).
The SEC in an official statement signed by its management issued a stern warning against dealing with the Company in any capital market related business.
“RUBY GOLD VENTURES is not registered by the Commission to perform any function in the capital market. Its operations/activities in the capital market are therefore illegal. In view of the above, the investing public is hereby WARNED to Please note that any person who does capital market related business with the Company and its Promoters after this publication does so at his/her own risk.” The SEC said.
Recall that the Nigeria’s Securities and Exchange Commission (SEC), in August warned investors of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net) and Mrs. Oge C. Ottiwu of No. 118 Zink Avenue, Opposite Eke Market, Awka, Anambra State, as illegal capital market operators.
Soon afterwards the online Ponzi scheme which embarked on an aggressive online media campaign to lure the investing public to participate in what it called “mutual aid financial network” with a monthly investment return of 30% crashed in Zimbabwe with thousands of people, among them civil servants and vendors, attesting to the loss of thousands of dollars to the fraudulent online pyramid scheme MMM Global Zimbabwe. It was reported that the social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services leaving participants stranded.
Nigerian investors have however been advised by regulatory authorities amongst which is the SEC and the CBN, to be cautious whilst embarking on such activities or stay away from such schemes out rightly in order to avoid a distasteful experience.
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