The Securities and Exchange Commission (SEC) and the Economic and Organized Crime Office (EOCO) have launched a joint investigation into the activities of some online investment firms.
Seventeen businesses were discovered to be operating without a license.
As a result, the Commission and the Office have warned the public to be wary of any dealings with these companies.
They are:
- PatronPay Ghana/PetronPay Ghana
- Cedi Network
- Bitcash Investment
- Solmax Group
- Freedom Synergy
- FxKash Investment
- Binomo Investment
- Hi Pay
- Quick Earn
- Lite Earn
- Snap Finance
- Faucet Wealth Investment
- Opay Investment
- Payme Financial Services
- Passive Income
- Yvonne Hanson Deals
- Alpha Pay
“The general public is hereby advised to be vigilant and refrain from investing in all unlicensed investment products,” according to a joint statement issued on Tuesday, September 13.
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“Capital Market Operators, Investors, and the General Public should have confidence that the SEC, in collaboration with all relevant law enforcement agencies, is committed to ensuring the rigorous enforcement of all securities laws for capital market operators in order to promote orderly growth and development of an efficient, fair, and transparent securities market in which investors and market integrity are protected.”
The most recent action was taken in accordance with Section 3(b) of the Securities Industry Act, as amended by Act 1062, and Section 3(d) of the Economic and Organized Crime Act.
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