Wednesday, January 15, 2020

"Nigerian oil producer duped into thinking it received $184 million loan from Qatar"

MarketWatch:

The company, Lekoil Ltd. LEK, told the London Stock Exchange on Jan. 2 it had received the loan from the Qatar Investment Authority.

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In a new statement to the London Stock Exchange, Lekoil said it was the victim of a “complex fraud in order to masquerade as representatives of the QIA.”

Lekoil shares plunged 73% on Tuesday after a trading halt Monday.

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Lekoil said it had performed due diligence