May & Baker Nigeria Plc has publicly disassociated itself from a fraudulent investment scheme that is illegally using its corporate name to solicit funds from unsuspecting members of the public. The company issued a formal warning to investors, urging them to steer clear of the scheme and to report any such offers to the relevant authorities.
Company's Official Statement
In a statement released on Tuesday, the pharmaceutical firm clarified that it has no connection whatsoever with the investment platform, which has been circulating on social media and other channels. The company emphasized that it does not run any form of investment scheme, neither does it employ third-party agents to collect money on its behalf.
“We have noticed a fraudulent investment scheme being promoted in our name. We want to make it unequivocally clear that May & Baker is not involved in any such venture,” the statement read. “We advise the public to treat any such invitation with the utmost suspicion and to report it immediately to the police or the Securities and Exchange Commission (SEC).”
Fraudulent Scheme Details
The fraudulent scheme, which has been described as a Ponzi-style arrangement, promises unsuspecting investors unrealistically high returns on their investments within a short period. The promoters of the scheme have been using the company's logo and official documents without authorization, creating an illusion of legitimacy.
According to the company, the scheme has been operating via a website and various social media platforms, where it lures victims with promises of guaranteed profits. The company has already alerted the relevant regulatory bodies, including the SEC, to take necessary action against the perpetrators.
Investor Advisory
May & Baker urged investors to always verify the authenticity of any investment opportunity before parting with their money. The company advised the public to rely only on official channels for information about its products and services, and to be wary of any unsolicited investment offers that appear too good to be true.
“Investors should always check with the SEC to confirm whether an investment scheme is duly registered and authorized to operate in Nigeria,” the statement added. “We also encourage anyone who may have already fallen victim to this scam to report the matter to law enforcement agencies.”
The company reiterated its commitment to maintaining the highest standards of integrity and transparency in all its dealings, and assured stakeholders that it is taking all necessary steps to protect its reputation and the interests of the investing public.
This warning comes amid a rise in fraudulent investment schemes in Nigeria, which have defrauded many citizens of their hard-earned savings. Regulatory authorities have repeatedly cautioned the public against such schemes, which often collapse, leaving investors with huge losses.
