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Conviction of an Illegal Operator “Marian Moses Ventures Ltd” by the Federal High Court Kaduna Division


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Management of the Securities and Exchange Commission wishes to draw the attention of the investing public to the Judgment of the Federal High Court Kaduna division of October 27, 2016, which handed down a 5year imprisonment term against one Moses Samanja the Managing Director of the Illegal Operator (Marian Moses Ventures Ltd) and also ordered that the Corporate Affairs Commission (CAC) should wind up the said Mariam Moses Ventures Ltd; while funds in the accounts of the firm should be used to restitute its clients.

Mariam Moses Ventures Ltd was convicted for soliciting and collecting deposits from unsuspecting members of the public with unrealistic return on investment without a SEC registration or CBN licence.

The conviction of this illegal Operator serves as warning to perpetrators of illegal investment schemes that regulators will not “fold their arms” in the fight against the activities of illegal Fund/Investments Managers.

Consequent upon the above, this is to advise the investing public to always demand for a SEC Registration or CBN License before making deposit or subscribing to a scheme promoted by any firm.



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Regulator Information

Abbreviation: SEC NG
Jurisdiction: Nigeria

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