Shares’ fraud: NSE indicts 29 stockbroking firms, four others

The Nigerian Stock Exchange (NSE) has investigated and indicted 29 stockbroking firms and four stockbrokers for alleged unauthorized sale of their clients’ shares.
A report on shares fraud, also known as unauthorized sales of investors’ shares, indicated that several stockbroking firms surreptitiously sold their clients’ shares and diverted the proceeds. The report by the Nigerian Stock Exchange (NSE) covered the 30-month period between January 2012 and June 2014. Continue Reading