SEC Warns Public Over Forsman & Bodenfors Ltd Activities

The Securities and Exchange Commission, SEC, has issued a warning to the investing public regarding the activities of Forsman & Bodenfors Ltd. The commission has found that the company is not registered to operate in the capital market or to solicit funds from the public. Preliminary investigations have revealed that Forsman & Bodenfors Ltd has been actively promoted on social media platforms and online forums, and its operations exhibit the typical indicators of a fraudulent (Ponzi) scheme.

Key Takeaways:

• Forsman & Bodenfors Ltd is not registered with the SEC and is not authorized to solicit funds from the public or operate in the Nigerian capital market.
• The company's activities are suspicious and exhibit signs of a fraudulent Ponzi scheme.
• The SEC has informed the public to refrain from engaging with Forsman & Bodenfors Ltd or its representatives regarding any business in the Nigerian capital market.
• The investing public is advised to verify the status of companies and entities offering investment opportunities on the SEC's portal - http://www.sec.gov.ng/cmos - before transacting with them.
• Forsman & Bodenfors Ltd is also known as F&B and has been promoting its Nigerian branch, claiming it is a Swedish advertising company.
• The company's promoters are 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.

Statistics:

• The SEC has not provided any specific statistics regarding the number of people affected or the amount of money lost to Forsman & Bodenfors Ltd.
• According to the SEC, the company's operations exhibit typical indicators of a fraudulent Ponzi scheme.
• The SEC has not specified the time period during which the company's activities have been ongoing.

Sources:

• "SEC Warns Public Not to Deal with Forsman & Bodenfors Ltd", Securities and Exchange Commission, January 20, 2025.