The Economic and Financial Crimes Commission, on Monday, has arraigned two companies, FARM360 Limited and MCBHADMOS Trans-Atlantic Trade Limited, for allegedly operating illegal capital market investment schemes.
They were arraigned the Lagos Zonal Directorate 2 of EFCC before Justice D.I. Dipeolu of the Federal High Court in Ikoyi, Lagos.
According to a statement posted on Tuesday by the anti-graft agency via its official X handle, the companies were brought before the court on a five-count charge bordering on the operation of collective investment schemes without obtaining the necessary regulatory approval from the Central Bank of Nigeria or the Securities and Exchange Commission. (Punch)
