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Oxford Group, Farmforte Agro, Vektr Capital Sealed
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Oxford Group, Farmforte Agro, Vektr Capital sealed by SEC over illegal investments
- SEC notified the public that it is unlawful for companies to solicit funds meant to fund private ventures as doing this will be in contravention of the Investments and Securities Act, 2007
EKO HOT BLOG reports that the Securities and Exchange Commission (SEC) has sealed three companies for alleged illegal investment activities. They are Oxford International Group, Farmforte Agro-Allied Solutions Limited/Agropartnerships and Vektr Capital Investment.
This was made known via a statement, where the regulator accused them of carrying out capital market activities without a license.
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As a result, their offices in Lagos, Port Harcourt and Abuja were shut for operations that fall within the ambit of fund management without registration.
According to SEC, the sanction was carried out under Section 13 (w) Investments and Securities Act 2007, noting that the firms do not have its approval to conduct activities which promise “exorbitant rates of returns to lure investors”.
“The commission hereby notifies the investing public that none of these entities or their investment platforms are registered by the SEC.”
SEC notified the public that it is unlawful for companies to solicit funds meant to fund private ventures as doing this will be in contravention of the Investments and Securities Act, 2007.
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