EFCC AND SEC TO HUNT DOWN OPERATORS OF  PONZI SCHEMES

 The Economic and Financial Crimes Commission and the Securities and Exchange Commission have vowed to hunt down operators of Ponzi schemes nationwide.

The commissions declared this yesterday following the collapse of the digital assets platform, CBEX.

The SEC, however, revealed that it had yet to receive formal complaints about the collapsed digital assets platform, while the EFCC assured that individuals who invested in CBEX would get their money back.

Speaking during a live television programme, the Director-General of SEC, EMOMOTIMI AGAMA, vowed that the commission would hunt down the fraudsters, but maintained that the SEC had continuously warned Nigerians against investing in schemes that are too good to be true.

Recall that, CBEX, which claims to use artificial intelligence for trading in crypto and promised 100 per cent returns in 30 days, collapsed on Monday, with an estimated N1.3tn lost.