The Securities andExchange Commission, SEC, yesterday, has warned the investing public over the activities of Forsman Bodenforms Limited, saying the firm is not registered to operate in the capital market or to solicit for funds from the public.
The SEC, disclosed this on its website, stressing that its attention has been drawn to the activities of Forsman Bodenforms Limited, which has been promoting its services in the social media.
The commission said: The attention of the Securities and Exchange Commission has been drawn to the activities of Forsman Bodenfors Ltd also known as F B, which is paraded by its promoters as the Nigerian Branch of a Swedish advertising company bearing that name with obvious criminal intent. The promoters of this fraudulent Nigerian entity go about promising Nigerians automatic employment in the company as compensation for recruiting more members who are lured to pay various sums of money for various positions in the company.
The commission noted that preliminary investigations reveal that Forsman Bodenfors Ltd has been actively promoted on social media platforms and online forums, adding that its operations exhibit the typical indicators of a fraudulent Ponzi scheme.