“Not Authorised”: SEC Speaks on Status of Former Police Commissioners Investment Club [Video]

• The SEC has declared an Anambra state former police commissioner’s investment club unregistered and unauthorised
• The commission’s intervention follows a petition written against the group, alleging fraud and misappropriation of funds
• It advised the public to always check the registration status of any organisation on its website before engaging with them

Legit.ng journalist Victor Enengedi has over a decade’s experience covering Energy, MSMEs, Technology and the stock market.

The Securities and Exchange Commission (SEC) has stated that Alpha Trust Investment Club (ATIC) and its investment plans are neither registered nor sanctioned by the capital market regulator.

ATIC was co-founded by Aderemi Adeoye, a retired police commissioner, in June 2018.

Earlier this year, the commission shut down an investment company due to alleged involvement in illegal investment and other prohibited capital market activities.

ATIC in the eye of the storm

A …