Yes, there are many of them. But we will cite just two recent examples here: The first one is Pinkoin owned by Inksnation. Registered under Ibsmartify, it scammed hundreds of its gullible investors in one of the biggest cryptocurrency scams in Nigeria. One of the steps the brain behind the Pinkoin to gain the trust of Nigerians took was to register a company called Ibsmartify (RC No: 2956459) through which the owner Omotade-Sparks Amos Sewanu who has now been declared wanted by Nigeria’s anti-graft agency perpetrated his scam. The fact that his business is registered doesn’t stop him from carrying out his dubious act. Findings show that the address (23 Yetunde Abu Street) Ibsmartify (owners of Inksnation’s pinkoin)submitted at CAC was fake as he doesn’t operate from the address that appears on the CAC database. Another one is the case of a couple of Bamise and Elizabeth Ajetunmobi, the companies through which they swindled Nigerians of money worth several billions of naira were registered, yet they defrauded investors and disappeared from Nigeria to buy investment citizenship at Antigua and Barbuda According to Gazettengr, the fraud is worth NGN22billion, their companies: 1) Imagine Global Holding Company Limited, 2) Imagine Global Solutions Limited were registered with CAC Verdict: A registered company can also be a scam! Do more background checks if you found name of the company on CAC database