As we previously reported in the immediate aftermath of FTX's multi-jurisdictional bankruptcy filings here, its corporate fallout affected not only Bahamian and U.S. entities, but allegedly also many crypto-related companies on the African continent. Further detailed and often shocking (and as of recently even prurient) news about the fraudulent ponzi exchange have by now reached … Continue reading African crypto exchanges rush to distance from FTX
FTX Crypto exchange’s Ponzi scheme extended deep into Africa
As the American Chapter 11 bankruptcy filing of now-defunct crypto exchange FTX shows, its rapid implosion within a matter of days last week has wrought havoc in the Web3 world, especially in crypto-currency trading -- and extended its fraudulent tentacles deep into many African jurisdictions. ftx-bankruptcy-filing-sbf-del-ch-11-2022Download “The whole operation was run by a gang of … Continue reading FTX Crypto exchange’s Ponzi scheme extended deep into Africa
Financial corruption scandal engulfs Nigeria’s top justice amid political turmoil
Code of Conduct Tribunal convicts Justice Walter Onnoghen The Tribunal convicted Mr. Onnoghen of false asset declarations in foreign bank holdings. The judge must now forfeit multiple foreign bank accounts and their (unidentified) contents to the Nigerian federal government. He is further barred from holding public office for ten years. Observers question the motivation behind … Continue reading Financial corruption scandal engulfs Nigeria’s top justice amid political turmoil
Anti-Fraud & Corruption Law in Africa 