The Economic and Organized Crime Office (EOCO) and the Securities and Exchange Commission (SEC) have launched a combined investigation into the actions of some investment businesses that primarily conduct business online.
As a result, it has discovered that seventeen businesses were functioning illegally. The general public has therefore been warned not to engage in any kind of service with the underlisted 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 to desist from investing in all unlicensed investment products,” the joint statement issued on Tuesday, September 13 said.
“Capital Market Operators, investors and the general public should be assured that the SEC in collaboration with all relevant law enforcement agencies is committed to ensuring the rigorous enforcement of all the securities laws for operators in the capital market to promote an orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.”
The latest action is in accordance with Section 3(b) of the Securities Industry Act, Act 929, as amended by Act 1062 and Section 3(d) of the Economic and Organised Crime Act 2010, Act 804.
