SEC warns investors of Ruby Gold Ventures illegal operation

The Securities and Exchange Commission (SEC) has warned investing public of illegal capital market operation of Ruby Gold Ventures.  The apex capital market regulating body stated that company is not a registered company.

SEC in a statement obtained by Business247 News Online said, “The attention of the Securities & Exchange Commission has been drawn to an illegal operator in the Capital Market known as Ruby Gold Ventures (Crypto Currency Investment).

“Ruby Gold Ventures is not registered by the Commission to perform any function in the capital market. Its operations/activities in the capital market are therefore illegal.

“In view of the above, the investing public is hereby WARNED to stop and desist from dealing with the Company in any capital market related business,” it added.

It would be recalled that SEC last month banned WT Securities Ltd. and its Directors, Mr. Taofik Lawal and Mrs. Iyabode Lawal for life in the capital market over mismanaging the stocks of Mrs. Opral Mason Benson, and the unauthorized sale of the Nigerian Breweries Plc. shares belonging to Ngozi Onyekwere Nwachukwu.

SEC in its statement said, “The actions of WT Securities Ltd. and the aforementioned Directors are in violation of Section 110 of the ISA 2007 and Rule 65 (1) of the Commission’s Consolidated Rules and Regulations 2013.

“Consequently, in accordance with Section 13 (bb) of the ISA 2007, Mr. Taofik Lawal and Mrs. Iyabode Lawal have been banned and blacklisted from operating in the Nigerian Capital market for life.”