SEC charges 3 individuals from Nigeria for operating a fraudulent online scheme, impersonating financial professionals and defrauding investors of over $2.9m

The defendants created fake websites and social media profiles to attract U.S. investors, promising high returns and manipulating investment platforms. In a parallel criminal case, the U.S. Attorney’s Office has filed charges, while the SEC also issued an investor alert on impersonation scams. Compliance professionals may not be fully aware of the extent to which fraudsters use technology, including voice-changing software, to manipulate trust and create convincing, yet fraudulent, financial identities…