Capital Bancorp warns against ponzi investment – Capital Bancorp Plc has advised the public to be wary of firms that offer unrealistic returns on investment to defraud unsuspecting investors.
Capital Bancorp dissociated itself from a publication that guarantees 100 per cent return on investment, being offered by a company impersonating it through a website: capitalbancorppublicltd.com hosted on a website owned by a company called NameCheap, based in Panama.
A statement by Capital Bancorp’s management to regulatory authorities and public indicated that only a money doubling scheme could guarantee such huge returns being offered on the website.
Capital Bancorp called the attention of the public, Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Stock Exchange, NASD Plc, FMDQ Plc and other financial institutions, the Police and EFCC to a company using a website address of capitalbancorppublicltd.com. claiming to be and impersonating Capital Bancorp.
According to Capital Bancorp, the bogus website was a vehicle designed to defraud members of the public.
“Those familiar with Capital Bancorp Plc will easily recognise that the offers are outside the operational mode of Capital Bancorp Plc which in its 33 years of operations has never been known to offer reckless investment instruments, not even in the heydays of finance houses with colourful operators as Forum and Umanah Umanah and such-like bogus finance houses. Capital Bancorp true to its rational and professional management has always survived and indeed prospered through all the turbulent periods in the financial services industry in the last 27 years,” Capital Bancorp stated.
The investment group warned that the impersonating firm has no physical address and probably exists only on the internet as it is not in any way affiliated with or related to Capital Bancorp.