The Securities and Exchange Commission, (SEC) has warned the investing public over the activities of Forsman & Bodenforms Limited, saying the firm’s operations are fraudulent.
In a notice published on its website, the SEC said the firm is not registered to operate in the capital market or to solicit for funds from the public.
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 hereby informs the public that Forsman & Bodenfors Ltd is not registered by the Commission nor authorized to solicit funds from the public or to operate in any capacity in the Nigerian capital market.
“Accordingly, the public is advised to refrain from engaging with Forsman & Bodenfors Ltd or its representatives in respect of any business in the Nigerian capital market, as the potential risk of losing funds to the fraudulent promoters of the entity is very high.
“The investing public is further advised to verify the status of companies and entities offering investment opportunities on the Commission’s dedicated portal.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
